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Bank of Canada Considering Creating a National Digital Currency

Bank of Canada Considering Creating a National Digital Currency

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National governments spanning the globe have grappled with how to handle the meteoric rise of cryptocurrencies such as Bitcoin for years. During the early stages in the development of cryptocurrencies, fears persisted over crypto being used for illicit purposes such as money laundering, funding of terrorist organizations, and in transactions involving illegal products and services. However, as the adoption of cryptocurrencies continues to climb, many governments are now in the process of incorporating virtual and digital currencies into their future plans and financial systems, including Canada.
In a research report released by the Bank of Canada last year, researchers found that the percentage of Canadians that own Bitcoin jumped from 2.9 to 5.0 per cent between 2016 and 2017. During the same time period, the percentage of Canadians that are aware of Bitcoin rose from 64 to 85 per cent. The Bank of Canada says that the statistics and data released in the report came at an interesting time for Bitcoin as the price of the cryptocurrency hit an all-time high of $25,497 (BTC to CAD) on December 17, 2017. By contrast, the price of BTC to CAD at the start of 2016 was just $599.77, meaning that the price of Bitcoin in Canadian dollars increased by over 425 per cent in only two years. At the time of this article was published, the price of BTC to CAD was $12,310.
The growing adoption of cryptocurrencies in Canada and around the world can be attributed mainly to the many benefits and inherent characteristics of cryptocurrency and blockchain technologies. The benefits of cryptocurrencies include lower transaction costs as the result of not needing a third-party or financial intermediary like a government or bank to complete transactions. Transactions using cryptocurrency can be conducted anywhere in the world, quickly and anonymously. Giving an estimated 2.5 billion people access to a financial platform for the first time. Cryptocurrencies do not have a single point of failure. Meaning they cannot be shut down, controlled or censored by any national government.
Regarding the benefits of digital currencies, the Governor of the Bank of Canada Stephen Poloz told CNBC in an interview, “One of the most important aspects of Bitcoin is the distributed ledger technology that I think is a true piece of genius and it will be applied to many areas in the economy. Incredible efficiencies, this is truly huge.”
As a result, many nations, including Canada, are exploring different ways to participate in digital currencies to incorporate the benefits of the technology into their existing financial frameworks while also trying to minimize the dangers digital currencies pose towards destabilizing existing fiat-based financial and monetary systems.
In an internal presentation made to governor Poloz and the Bank of Canada’s Board of Directors that was obtained by media outlet The Logic, it has been revealed that the Bank of Canada is currently considering launching its own national digital currency.
The Bank of Canada’s exploration into creating a national digital currency has a dual mandate of attempting to make the national currency more efficient while also providing Canadians with an alternative to existing decentralized cryptocurrencies. The new digital currency could eventually replace paper money in Canada, although during the initial stages, the new digital currency is meant to exist side by side with the Canadian dollar.
The Bank of Canada says creating a digital currency will give the federal government enhanced control over the existing financial system as the new digital currency will be more traceable than cash. The ability to more closely monitor the new digital currency will allow the police and the Canada Revenue Agency (CRA) to track transactions more efficiently and effectively.
The Bank of Canada also hopes that a new national digital currency could eliminate the direct threat cryptocurrencies pose to existing financial and monetary systems by having the ability to track and monitor transactions. Having a transparent and traceable digital currency would also prove useful by providing the government with more data about how Canadians spend their money.
The Logic reporter Zane Schwartz told the CBC that the ability to more closely monitor the transactions of Canadians raises new privacy concerns. Schwartz points out that under the current system, authorities need a warrant to access the spending information held by an individual’s bank. Schwartz went on to say that the introduction of a new digital currency could mean that Canadians might not have any way of knowing if their spending information has been accessed by the police, government, or tax authorities. Canadians could also be in the dark in terms of knowing how their spending information is used or shared by the government.
In a statement to the CBC radio show The Current, the Bank of Canada said, “Any potential system would need the support of government and would have to comply with Canadian privacy laws. The public values privacy and this is an important feature we would seek to maintain in designing a Canadian banking digital currency.”
Canada is not the only G8 power to consider a central bank digital currency (CBDC). Earlier this year, Forbes reported that the Chinese Central Bank is on the verge of releasing its own cryptocurrency, possibly as early as later this year. The currency is set to be released to seven Chinese institutions who are all amongst the most prominent players in the Chinese economy.
According to Forbes’ sources, the institutions involved in the initial release of the cryptocurrency will have the responsibility of dispersing it to 1.3 billion Chinese citizens and others doing business in the renminbi. Sources went on to tell Forbes that the Chinese Central Bank hopes to make the currency available in the United States but noted that it would take a significant amount of time to materialize.
An anonymous source claiming to have formerly worked for the Chinese government involved in the cryptocurrency’s development told Forbes that the technology behind the cryptocurrency has been ready since last year and could be set to launch by the end of 2019. The source speculated that the launch of the currency could coincide with China’s most important day for online shopping (known as Singles Day) on November 11.
Are you new to the Canadian crypto space? At NDAX, we’re not. Create an account on our new website and start trading cryptocurrencies in Canada today.
THIS BLOG AND WEBSITE ARE NOT INTENDED TO PROVIDE INVESTMENT, LEGAL, ACCOUNTING, TAX, OR ANY OTHER ADVICE AND SHOULD NOT BE RELIED ON IN THAT OR ANY OTHER REGARD. THE INFORMATION CONTAINED HEREIN IS FOR INFORMATION PURPOSES ONLY AND IS NOT TO BE CONSTRUED AS AN OFFER OR SOLICITATION FOR THE SALE OR PURCHASE OF CRYPTOCURRENCIES OR OTHERWISE.
submitted by SilverFoxxII to u/SilverFoxxII [link] [comments]

02-18 04:04 - 'Btc is going to be worthless in the same way that a Canadian dollar is worthless in the US. Keep trading your fantasy coins while btc channels to the 100s. this is delusion land. Nothing more than people looking to get rich qui...' by /u/meatre12 removed from /r/Bitcoin within 1-11min

'''
Btc is going to be worthless in the same way that a Canadian dollar is worthless in the US. Keep trading your fantasy coins while btc channels to the 100s. this is delusion land. Nothing more than people looking to get rich quick under the guise of “groundbreaking technology”. Half the ppl in this sub couldn’t even begin to explain what it is exactly they have thrown their money at. Blockchain itself is groundbreaking these bullshit magic tokens are not. The corporations will exploit blockchain in their own ways the average person had their chance to get rich in 2017 and there may be more in the future but it will never surpsss it’s role of a bullshit pump and dump scheme. Put $1000 in btc in the off chance that it’s worth 10k someday and put your money into something real
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Been doing a bunch of research/reading into bitcoin. I’m Canadian and want to but a Nintendo switch from bro-sky who’s in the states. I have to buy Bitcoins as a Canadian? They are x dollars for 1 bitcoib cause I’m Canadian. Now the xbox in in the states and they have bought bitcoins for 2 dollars.

submitted by Aragoner to Bitcoin [link] [comments]

Looking for a Canadian Bitcoin Exchange that accepts Credit Card

Trying to find somewhere that I can by Bitcoin in Canadian Dollars via Credit Card. Currently buying via a US site but getting hit on the exchange from CAD to USD with my credit card and then the sites exchange rates from USD to BTC. Having Canadian Dollars charged to my credit card is what I'm looking for here. First person to find one gets a beer
submitted by DPH_NS to BitTippers [link] [comments]

12-01 04:32 - 'What’s a good app to buy and sell bitcoin in Canadian dollars?' (self.Bitcoin) by /u/ThreeAmigos123 removed from /r/Bitcoin within 1372-1382min

What’s a good app to buy and sell bitcoin in Canadian dollars?
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Author: ThreeAmigos123
submitted by removalbot to removalbot [link] [comments]

Been doing a bunch of research/reading into bitcoin. Im Canadian and want to but a Nintendo switch from bro-sky whos in the states. I have to buy Bitcoins as a Canadian? They are x dollars for 1 bitcoib cause Im Canadian. Now the xbox in in the states and they have bought bitcoins for /r/Bitcoin

Been doing a bunch of research/reading into bitcoin. Im Canadian and want to but a Nintendo switch from bro-sky whos in the states. I have to buy Bitcoins as a Canadian? They are x dollars for 1 bitcoib cause Im Canadian. Now the xbox in in the states and they have bought bitcoins for /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Advice About Bitcoin Transaction Fees (In anticipation of high fees for the next bullrun)

Hi guys, this is my first post here!
Thanks for having me, I interact a lot on Bitcoin and crypto groups on Facebook but I wanted to find new Bitcoin folks and discussions here!
The other day I saw someone complaining about the wait time for a Bitcoin transaction so I wrote a few pieces of advice in regards to Bitcoin transaction fees. I hope this can be useful for some of you!
Here it is:
For those worried about Bitcoin's high transaction fees and transaction wait times right now, you should brace yourself for the upcoming TRUE Bitcoin Bullrun.
Remember that in 2017, at the peak of the bubble, the average transaction fee was up to $ 50 per transaction and some people even paid $ 1000 for single transactions.
This is sure to repeat itself at an unprecedented level as I believe this time around an even bigger wave of people will be buying Bitcoin. Not only investors like you and me, but also big companies who will buy in tens and hundreds of millions.
Here are some tips to mitigate the impact of transaction fees on your use of Bitcoin.

1. Learn How to Use the Mempool.

The mempool is the space where valid Bitcoin transactions are stored while waiting to be included in a validated Bitcoin block. Obviously, miners will select transactions with higher transaction fees to fill up a valid block.
I recommend this mempool explorer which visually represents how full the mempool is and will indicate to you how many satoshi /vbyte you need to apply on your transaction in order for it to be included in your desired timeframe.
Fee estimators in wallets are not ideal and ultimately none of them has found the perfect recipe for proper fee estimation. Selecting the transaction fee manually by consulting the mempool remains the best option to select the fee.
A few tips:

2. Use wallets that support Segwit and RBF (Replace by Fee)

Segwit is an improvement made to Bitcoin in 2017 that redefined the way transactions take space in a block. Just by using a Bitcoin wallet that supports it, you will save between 20-60% in fees depending on the complexity of the transaction.
RBF is a function in wallets that allows you to modify the transaction fees associated with a transaction following its broadcast on the Bitcoin network. So, if your transaction does not go through quickly enough for your liking, you can increase the fee later.
To find out which Bitcoin software wallet supports both features, you can consult this comparison table from Veriphi where they list several dozen wallets here.
Fun fact:
Veriphi also made a case study to find out how many fees could have been saved by Bitcoin users if they had used SEGWIT and the Batching technique in the cases where they apply.

Results

Between 2012 and August 2020, more than 57,817 .69 BITCOINS would have been saved in transaction costs, or approximately 1 billion Canadian Dollars in transaction fees. For those who are interested in the results, check it out more in detail here.

3. Do not leave your coins on a platform (Bonus: Use a immediate delivery platform)

Custodial exchanges often block Bitcoin withdrawals during high transaction volume episodes because they do not want to pay their user's Bitcoin transaction fees. If they don't block it they will often make their user overpay for the transactions fees.
This has happened in the PAST and even quite recently, so if you want to avoid a lot of the frustration and stress when the Bullrun comes, remove your coins from there before it is too late, preferably right now.
Some non-custodial platform in Canada:
veriphi.io
Bullbitcoin.com
I strongly anticipate the increase in transaction fees. Watch out for platforms that haven't implemented transaction optimization techniques yet, they will have the hardest time sending transactions.
Check out this article about the advantages of an immediate delivery platform here.

Conclusion

High Bitcoin transaction fees are inevitable in Bitcoin and even desired because they will one day have to replace the block rewards. This is a demonstration that Bitcoin works and that the world is using it.
By adopting the best practices and the right technologies, you will be able to mitigate your costs and accumulate more Bitcoin in the end.

*Disclaimer: I work at Veriphi.io but didn't want to be too pushy, I hope you appreciate the tips and the provided resources.
Cheers
submitted by SnooSquirrels7507 to BitcoinCA [link] [comments]

Cultural Exchange between /r/Lebanon and /r/berlin

Welcome to the Cultural Exchange between /Lebanon and /berlin/
Courtesy of our friends over at /berlin/ we are pleased to host our end of the cultural exchange between the two subreddits.
The purpose of this event is to allow people from two different regions to get and share knowledge about their respective cultures, daily life, history and curiosities.

General guidelines


Quick introduction about Lebanon

Quick explanation of what is happening in Lebanon (Before the explosion): https://imgur.com/a/Ixo3v8S
Introduction
Lebanon is a tiny country in the middle east. It's bordered by Syria from the north and east, Israel from the south, and the Mediterranean Sea from the west. Syria has been in a deadly civil war since 2012. Lebanon and Israel are officially "at war" since the inception of Israel, though currently there isn't any war going on, and the last real war between the two countries happened in 2006 and lasted only 30 days.
Lebanon went into a long and deadly civil war in the 70s and 80s. It only ended when the war lords sat together and decided that instead of attempting to kill each other, why not become rulers and split the gains. Thus from the early 90s until today Lebanon has been ruled by the same warlords that fought in the civil war. The speaker of the parliament never changed, not even once, and the rest of MPs and politicians just switched ministries and places every few years to present the image of democracy.
Lebanon also has Hizbollah, an organization that is labeled as a terrorist organization by many countries. Hizbollah has more powerful intillegence and military than the Lebanese government itself. The organization has unobstructed powers, for example, it started the 2006 war with Israel without the acceptance of the official Lebanese government.
Lebanese politicians save their billions and billions of dollars in savings in banks across Europe, mainly Switzerland.
Lebanon doesn't have oil, nor a serious construction sector. Lebanon relies on the service sector and tourism to survive, both of which are almost nonexistent at this point. Lebanon has a huge crippling debt. Lebanon's capital, Beirut, was voted the most expensive city to live in in the middle east two years ago. Lebanon's passport is one of the worst passports in the world and doesn't allow you to visit any notable country without a visa.
October 2019 - Political, COVID-19 and Economical Problems
In October 2019, the government approved a law that would increase taxes, and tax the usage of Whatsapp. The Lebanese population attempted a peaceful revolution, the country effectively closed down from October until December. The revolution was successful in forcing the government to resign, but wasn't able to make the president, MPs or speaker of the parliament resign.
Things went to shit after that, unofficial capital control started in October. The bank declared that people can't withdraw money from their savings or current accounts. People weren't allowed to transfer money outside Lebanon or use any credit or debit card internationally. The government started considering a haircut. The currency started to lose value rapidly.
The official rate is currently 1$ = 1,515 LBP while the black market rate is 1$ = 8,500 LBP
The money stuck in the bank is useless, almost frozen because it can't be withdrawn without losing ~65% of it's value and even then, in small quantities.
Add to that COVID-19 is ripping the country. We're having exponential growth in the number of cases right now.
The Explosion
On August 4, 2020 multiple explosions occurred in Beirut Port that destroyed half the city, killed hundreds, with an additional large number of people missing, injured hundreds of thousands of people and made 300,000 people homeless. 80000 children displaced. The explosion was so big that it was heard and felt in Cyprus and Syria. There were reports of damages to properties from the explosions all over Lebanon, not just in Beirut.
The explosion destroyed half of the city including busy hospitals, which ended up causing people to have to deliver or have critical operations using the flash light from the doctors' cellphones.
The explosion killed several foreign nationals including French, German, Canadian, American, and Australian citizens.
This post is made to raise awareness about what happened in Lebanon by sharing the videos of the incident. Please note that those videos are graphic as they show the moment the explosion happened.
Donation Help
Any kind of monetary donation will go a LONG way during these times.
You can donate using your credit card, paypal account, bank transfer or bitcoin donation.
You can find a list of verified and safe NGOs to donate to here: https://www.reddit.com/lebanon/comments/iaakslist_of_lebanese_ngos_that_are_verified_and_safe/
You can check out some of the videos here:
Reddit Links:
submitted by ThePerito to lebanon [link] [comments]

[WTS] Pre-33 GOLD, Fractional Krugerrand, French Roosters, Sovereigns, Ducats, and 2020 ASE Tubes, & 100oz RCM + tons of SILVER!! BIG Bitcoin / Crypto discounts!!

Proofity Proof!!
Prices will expire if gold or silver moons. Spot right now Gold ~$1950, Silver ~ $26.9
Disclaimers:
Payment New buyers (under 20 trades) Must pay via Zelle, Crypto, or Postal Money Order. Sorry, no exceptions. Established buyers PM for payment options.
DISCOUNTS Discounts are available if you pay with Bitcoin, ETH, or XMR!!
Minimum Order: $100, If you are a bit under that's fine. I just don’t want to pack a million items.
Shipping is $5 for less than 8oz else $8 for Priority.
Reasonable offers accepted
Item Number QTY Description Total Weight Price Crypto Price
AMERICAN GOLD
AG1 1 1907 - $2.50 Gold Quarter Eagle Liberty 0.12094 oz $350 $340
AG2 2 1881, ~~1903s $5 Gold Half Eagle Liberty~~ 0.2419 oz SOLD SOLD
AG3 1 2011 25th Anniversary ULTRA CAMEO PROOF 1/4 American Gold Eagle PF69. 0.25 oz $570 $550
WORLD GOLD
WG0 1 VICTORY In the Pacific, Australian 9999 gold! 0.1 oz SOLD SOLD
WG1 5 6 1/4 Sovereigns! These are so neat & tiny! Each comes with COA, capsule, & box. VERY LOW MINTAGE (3,999 and 4,999). 0.0588 oz $135 $130
WG2 10 French 20 Franc Roosters, many years: 1901, 1908, (1 ~~2) 1910, (1 2) 1911, (2 3) 1912, 1913~~ 0.1867 oz SOLD SOLD
WG3 6 British Sovereigns in capsules! Several different monarchs! 1905, 1906, 1911, 1912, 1925, 1927 0.2354 oz SOLD SOLD
WG4 1 1982 South African Krugerrand 0.25 oz SOLD SOLD
WG5 1 1915 Austrian 4 Ducat in capsule 0.4438 oz SOLD SOLD
MEXICAN SILVER
MS2 5 7 1968 Mexico Silver 25 Pesos Olympics, Olimpiada! $20 $19
MS3 7 Mexico Silver 100 Pesos, check out the rainbow one (VIDEO)!! SOLD SOLD
Premium SILVER
S0 2 3 2020 Premium Silver Stacker Paradise - 1 2020 ASE + 1 2020 Maple + 1 2020 Philharmonic + 1 2020 Britannia + 1 2020 Britain Silver Royal Arms + 1 2020 Niue Owl 6 oz $200 $190
S1 2 999 Vintage WallStreet Mint bar in capsule 10 oz $325 $315
S2 1 999 Scottsdale Stacker 10 oz $320 $310
S3 1 Scottsdale Stacker Rounds LOT: 5oz stacker + 2oz stacker + 100g stacker 10.2151 oz $330 $315
S3B 1 Scottsdale Stacker Rounds LOT: (2) 5oz stacker 10 oz $325 $312
S4 1 999 Vintage Golden State Mint bar in capsule 5 oz $160 $150
S5 1 999 Sunshine Mint bar in capsule 5 oz $155 $150
S7 2 3 999 APMEX rounds in capsule 5 oz $155 $150
S8 1 RCM 100oz Silver bar 100 oz SOLD SOLD
S8B 2 2016 Brittanias 1 oz SOLD SOLD
S8C 1 2014 Canadian Call of the Wild 1 oz $32 $31
S9 2 3 Prospector round in capsule 1 oz $31 $30
S10 23 91 999 Buffalo Rounds 1 oz $30 $29
S11 4 12 999 SilverTowne Indian/Eagles Walking Liberty silver round 1 oz $30 $29
American SILVER
AS0 3 2020 American Silver Eagles - Mint Direct, sealed (untouched direct from mint!) 20 oz $695 $685
AS1 1 2013-W American Silver Eagle (WestPoint) PCGS MS70 1 oz $45 $40
AS2 1 1197 American Silver Eagle ICG - MS69. A bit cloudy, price reflects that 1 oz $38 $35
AS3 1 1889, 1921 very nice Morgans 1 oz $30 $28
AS4 3 U.S. Mint $1 Silver Commem, PROOFS, in capsule 0.77345 oz $25 $23
AS5 5 1940's Washington Silver Quarter rolls 7.15 oz $215 $210
AS5B 5 Washington Silver Quarter rolls 7.15 oz $210 $200
AS6 9 10 Roosevelt Silver Dime rolls 3.575 oz $105 $100
AS7 1 Benjamin Franklin Half Dollar Proof in capsule $11 $9
fin.
submitted by ShadyApp to Pmsforsale [link] [comments]

/r/Scams Common Scam Master Post

Hello visitors and subscribers of scams! Here you will find a master list of common (and uncommon) scams that you may encounter online or in real life. Thank you to the many contributors who helped create this thread!

If you know of a scam that is not covered here, write a comment and it will be added to the next edition.

Previous threads: https://old.reddit.com/Scams/search?q=common+scams+master+post&restrict_sr=on
Blackmail email scam thread: https://www.reddit.com/Scams/comments/jij7zf/the_blackmail_email_scam_part_6/
Some of these articles are from small, local publications and refer to the scam happening in a specific area. Do not think that this means that the scam won't happen in your area.

Spoofing

Caller ID spoofing
It is very easy for anyone to make a phone call while having any number show up on the caller ID of the person receiving the phone call. Receiving a phone call from a certain number does not mean that the person/company who owns that number has actually called you.
Email spoofing
The "from" field of an email can be set by the sender, meaning that you can receive scam emails that look like they are from legitimate addresses. It's important to never click links in emails unless absolutely necessary, for example a password reset link you requested or an account activation link for an account you created.
SMS spoofing
SMS messages can be spoofed, so be wary of messages that seem to be from your friends or other trusted people.

The most common scams

The fake check scam (Credit to nimble2 for this part)
The fake check scam arises from many different situations (for instance, you applied for a job, or you are selling something on a place like Craigslist, or someone wants to purchase goods or services from your business, or you were offered a job as a mystery shopper, you were asked to wrap your car with an advertisement, or you received a check in the mail for no reason), but the bottom line is always something like this:
General fraudulent funds scams If somebody is asking you to accept and send out money as a favour or as part of a job, it is a fraudulent funds scam. It does not matter how they pay you, any payment on any service can be fraudulent and will be reversed when it is discovered to be fraudulent.
Phone verification code scams Someone will ask you to receive a verification text and then tell you to give them the code. Usually the code will come from Google Voice, or from Craigslist. In the Google version of the scam, your phone number will be used to verify a Google Voice account that the scammer will use to scam people with. In the Craigslist version of the scam, your phone number will be used to verify a Craigslist posting that the scammer will use to scam people. There is also an account takeover version of this scam that will involve the scammer sending a password reset token to your phone number and asking you for it.
Bitcoin job scams
Bitcoin job scams involve some sort of fraudulent funds transfer, usually a fake check although a fraudulent bank transfer can be used as well. The scammer will send you the fraudulent money and ask you to purchase bitcoins. This is a scam, and you will have zero recourse after you send the scammer bitcoins.
Email flooding
If you suddenly receive hundreds or thousands of spam emails, usually subscription confirmations, it's very likely that one of your online accounts has been taken over and is being used fraudulently. You should check any of your accounts that has a credit card linked to it, preferably from a computer other than the one you normally use. You should change all of your passwords to unique passwords and you should start using two factor authentication everywhere.
Cartel scam
You will be threatened by scammers who claim to be affiliated with a cartel. They may send you gory pictures and threaten your life and the lives of your family. Usually the victim will have attempted to contact an escort prior to the scam, but sometimes the scammers target people randomly. If you are targeted by a cartel scam all you need to do is ignore the scammers as their threats are clearly empty.
Boss/CEO scam A scammer will impersonate your boss or someone who works at your company and will ask you to run an errand for them, which will usually be purchasing gift cards and sending them the code. Once the scammer has the code, you have no recourse.
Employment certification scams
You will receive a job offer that is dependent on you completing a course or receiving a certification from a company the scammer tells you about. The scammer operates both websites and the job does not exist.
Craigslist fake payment scams
Scammers will ask you about your item that you have listed for sale on a site like Craigslist, and will ask to pay you via Paypal. They are scamming you, and the payment in most cases does not actually exist, the email you received was sent by the scammers. In cases where you have received a payment, the scammer can dispute the payment or the payment may be entirely fraudulent. The scammer will then either try to get you to send money to them using the fake funds that they did not send to you, or will ask you to ship the item, usually to a re-shipping facility or a parcel mule.
Craigslist Carfax/vehicle history scam
You'll encounter a scammer on Craigslist who wants to buy the vehicle you have listed, but they will ask for a VIN report from a random site that they have created and they will expect you to pay for it.
Double dip/recovery scammers
This is a scam aimed at people who have already fallen for a scam previously. Scammers will reach out to the victim and claim to be able to help the victim recover funds they lost in the scam.
General fraudulent funds scams The fake check scam is not the only scam that involves accepting fraudulent/fake funds and purchasing items for scammers. If your job or opportunity involves accepting money and then using that money, it is almost certainly a frauduent funds scam. Even if the payment is through a bank transfer, Paypal, Venmo, Zelle, Interac e-Transfer, etc, it does not matter.
Credit card debt scam
Fraudsters will offer to pay off your bills, and will do so with fraudulent funds. Sometimes it will be your credit card bill, but it can be any bill that can be paid online. Once they pay it off, they will ask you to send them money or purchase items for them. The fraudulent transaction will be reversed in the future and you will never be able to keep the money. This scam happens on sites like Craigslist, Twitter, Instagram, and also some dating sites, including SeekingArrangement.
The parcel mule scam
A scammer will contact you with a job opportunity that involves accepting and reshipping packages. The packages are either stolen or fraudulently obtained items, and you will not be paid by the scammer. Here is a news article about a scam victim who fell for this scam and reshipped over 20 packages containing fraudulently acquired goods.
The Skype sex scam
You're on Facebook and you get a friend request from a cute girl you've never met. She wants to start sexting and trading nudes. She'll ask you to send pictures or videos or get on webcam where she can see you naked with your face in the picture. The scam: There's no girl. You've sent nudes to a guy pretending to be a girl. As soon as he has the pictures he'll demand money and threaten to send the pictures to your friends and family. Sometimes the scammer will upload the video to a porn site or Youtube to show that they are serious.
What to do if you are a victim of this scam: You cannot buy silence, you can only rent it. Paying the blackmailer will show them that the information they have is valuable and they will come after you for more money. Let your friends and family know that you were scammed and tell them to ignore friend requests or messages from people they don't know. Also, make sure your privacy settings are locked down and consider deactivating your account.
The underage girl scam
You're on a dating site or app and you get contacted by a cute girl. She wants to start sexting and trading nudes. Eventually she stops communicating and you get a call from a pissed off guy claiming to be the girl's father, or a police officer, or a private investigator, or something else along those lines. Turns out the girl you were sexting is underage, and her parents want some money for various reasons, such as to pay for a new phone, to pay for therapy, etc. There is, of course, no girl. You were communicating with a scammer.
What to do if you are a victim of this scam: Stop picking up the phone when the scammers call. Do not pay them, or they will be after you for more money.
Phishing
Phishing is when a scammer tries to trick you into giving information to them, such as your password or private financial information. Phishing messages will usually look very similar to official messages, and sometimes they are identical. If you are ever required to login to a different account in order to use a service, you should be incredibly cautious.
The blackmail email scam part 5: https://old.reddit.com/Scams/comments/g8jqnthe_blackmail_email_scam_part_5/
PSA: you did not win a giftcard: https://old.reddit.com/Scams/comments/fffmle/psa_you_did_not_win_a_gift_card/
Sugar scams
Sugar scammers operate all over the internet and usually come in two varieties: advance-fee scams where the scammer will ask for a payment from you before sending you lots of money, and fake check style scams where the scammer will either pull a classic fake check scam, or will do a "bill pay" style scam that involves them paying your bills, or them giving you banking information to pay your bills. If you encounter these scammers, report their accounts and move on.
Google Hangouts
Google Hangouts is a messaging platform used extensively by all kinds of scammers. If you are talking with someone online and they want you to switch to Hangouts, they are likely a scammer and you should proceed with caution.
Publishers Clearing House scams
PCH scams are often advance-fee scams, where you will be promised lots of money after you make an initial payment. You will never need to pay if you win money from the real PCH.
Pet scams
You are looking for a specific breed of puppy, bird, or other pet. You come across a nice-looking website that claims to be breeding them and has some available right now - they may even be on sale! The breeders are not local to your area (and may not even list a physical location) but they assure you they can safely ship the pet to you after a deposit or full payment. If you go through with the payment, you will likely be contacted by the "shipper" who will inform you about an unexpected shipping/customs/processing fee required to deliver your new pet. But there was never any pet, both the "breeder" and the "shipper" are scammers, typically operating out of Africa. These sites are rampant and account for a large percentage of online pet seller websites - they typically have a similar layout/template (screenshot - example)
If you are considering buying a pet online, some easy things to check are: (1) The registration date of the domain (if it was created recently it is likely a scam website) (2) Reverse image search the pictures of available pets - you will usually find other scam websites using the same photos. (3) Copy a sentence/section of the text from the "about us" page and put it into google (in quotes) - these scammers often copy large parts of their website's text from other places. (4) Search for the domain name and look for entries on petscams.com or other scam-tracking sites. (5) Strongly consider buying/adopting your pet from a local shelter or breeder where you can see the animal in person before putting any money down.
Thanks to djscsi for this entry.
Fake shipping company scams
These scams usually start when you try to buy something illegal online. You will be scammed for the initial payment, and then you will receive an email from the fake shipping company telling you that you need to pay them some sort of fee or bribe. If you pay this, they will keep trying to scam you with increasingly absurd stories until you stop paying, at which point they will blackmail you. If you are involved in this scam, all you can do is ignore the scammers and move on, and try to dispute your payments if possible.
Chinese Upwork scam
Someone will ask you to create an Upwork or other freelancer site account for them and will offer money in return. You will not be paid, and they want to use the accounts to scam people.
Quickbooks invoice scam
This is a fake check style scam that takes advantage of Quickbooks.
The blackmail email scam The exact wording of the emails varies, but there are generally four main parts. They claim to have placed software/malware on a porn/adult video site, they claim to have a video of you masturbating or watching porn, they threaten to release the video to your friends/family/loved ones/boss/dog, and they demand that you pay them in order for them to delete the video. Rest assured that this is a very common spam campaign and there is no truth behind the email or the threats. Here are some news articles about this scam.
The blackmail mail scam
This is very similar to the blackmail email scam, but you will receive a letter in the mail.
Rental scams Usually on local sites like Craigslist, scammers will steal photos from legitimate real estate listings and will list them for rent at or below market rate. They will generally be hesitant to tell you the address of the property for "safety reasons" and you will not be able to see the unit. They will then ask you to pay them a deposit and they claim they will ship you the keys. In reality, your money is gone and you will have no recourse.
Craigslist vehicle scams A scammer will list a vehicle on Craigslist and will offer to ship you the car. In many cases they will also falsely claim to sell you the car through eBay or Amazon. If you are looking for a car on Craigslist and the seller says anything about shipping the car, having an agent, gives you a long story about why they are selling the car, or the listing price is far too low, you are talking to a scammer and you should ignore and move on.
Advance-fee scam, also known as the 419 scam, or the Nigerian prince scam. You will receive a communication from someone who claims that you are entitled to a large sum of money, or you can help them obtain a large sum of money. However, they will need money from you before you receive the large sum.
Man in the middle scams
Man in the middle scams are very common and very hard to detect. The scammer will impersonate a company or person you are legitimately doing business with, and they will ask you to send the money to one of their own bank accounts or one controlled by a money mule. They have gained access to the legitimate persons email address, so there will be nothing suspicious about the email. To prevent this, make contact in a different way that lets you verify that the person you are talking to is the person you think you are talking to.
Digit wallet scam
A variation of the fake check scam, the scammer sends you money through a digital wallet (i.e. Venmo, Apple Pay, Zelle, Cash App) along with a message claiming they've sent the money to the wrong person and a request to send the money back. Customer service for these digital wallets may even suggest that you send the money back. However, the money sent is from a stolen credit card and will be removed from your account after a few days. Your transfer is not reversed since it came from your own funds.
Cam girl voting/viewer scam
You will encounter a "cam girl" on a dating/messaging/social media/whatever site/app, and the scammer will ask you to go to their site and sign up with your credit card. They may offer a free show, or ask you to vote for them, or any number of other fake stories.
Amateur porn recruitment scam
You will encounter a "pornstar" on a dating/messaging/social media/whatever site/app, and the scammer will ask you to create an adult film with hehim, but first you need to do something. The story here is usually something to do with verifying your age, or you needing to take an STD test that involves sending money to a site operated by the scammer.
Hot girl SMS spam
You receive a text from a random number with a message along the lines of "Hey babe I'm here in town again if you wanted to meet up this time, are you around?" accompanied by a NSFW picture of a hot girl. It's spam, and they'll direct you to their scam website that requires a credit card.
Identity verification scam
You will encounter someone on a dating/messaging/social media/whatever site/app, and the scammer will ask that you verify your identity as they are worried about catfishing. The scammer operates the site, and you are not talking to whoever you think you are talking to.
This type of scam teases you with something, then tries to make you sign up for something else that costs money. The company involved is often innocent, but they turn a blind eye to the practice as it helps their bottom line, even if they have to occasionally issue refunds. A common variation takes place on dating sites/dating apps, where you will match with someone who claims to be a camgirl who wants you to sign up for a site and vote for her. Another variation takes place on local sites like Craigslist, where the scammers setup fake rental scams and demand that you go through a specific service for a credit check. Once you go through with it, the scammer will stop talking to you. Another variation also takes place on local sites like Craigslist, where scammers will contact you while you are selling a car and will ask you to purchase a Carfax-like report from a specific website.
Multi Level Marketing or Affiliate Marketing
You apply for a vague job listing for 'sales' on craigslist. Or maybe an old friend from high school adds you on Facebook and says they have an amazing business opportunity for you. Or maybe the well dressed guy who's always interviewing people in the Starbucks that you work at asks if you really want to be slinging coffee the rest of your life. The scam: MLMs are little more than pyramid schemes. They involve buying some sort of product (usually snake oil health products like body wraps or supplements) and shilling them to your friends and family. They claim that the really money is recruiting people underneath you who give you a slice of whatever they sell. And if those people underneath you recruit more people, you get a piece of their sales. Ideally if you big enough pyramid underneath you the money will roll in without any work on your part. Failure to see any profit will be your fault for not "wanting it enough." The companies will claim that you need to buy their extra training modules or webinars to really start selling. But in reality, the vast majority of people who buy into a MLM won't see a cent. At the end of the day all you'll be doing is annoying your friends and family with your constant recruitment efforts. What to look out for: Recruiters love to be vague. They won't tell you the name of the company or what exactly the job will entail. They'll pump you up with promises of "self-generating income", "being your own boss", and "owning your own company." They might ask you to read books about success and entrepreneurs. They're hoping you buy into the dream first. If you get approached via social media, check their timelines. MLMs will often instruct their victims to pretend that they've already made it. They'll constantly post about how they're hustling and making the big bucks and linking to youtube videos about success. Again, all very vague about what their job actually entails. If you think you're being recruited: Ask them what exactly the job is. If they can't answer its probably a MLM. Just walk away.

Phone scams

You should generally avoid answering or engaging with random phone calls. Picking up and engaging with a scam call tells the scammers that your phone number is active, and will usually lead to more calls.
Tax Call
You get a call from somebody claiming to be from your countries tax agency. They say you have unpaid taxes that need to be paid immediately, and you may be arrested or have other legal action taken against you if it is not paid. This scam has caused the American IRS, Canadian CRA, British HMRC, and Australian Tax Office to issue warnings. This scam happens in a wide variety of countries all over the world.
Warrant Call
Very similar to the tax call. You'll get a phone call from an "agent", "officer", "sheriff", or other law enforcement officer claiming that there is a warrant out for your arrest and you will be arrested very soon. They will then offer to settle everything for a fee, usually paid in giftcards.
[Legal Documents/Process Server Calls]
Very similar to the warrant call. You'll get a phone call from a scammer claiming that they are going to serve you legal documents, and they will threaten you with legal consequences if you refuse to comply. They may call themselves "investigators", and will sometimes give you a fake case number.
Student Loan Forgiveness Scam
Scammers will call you and tell you about a student loan forgiveness program, but they are interested in obtaining private information about you or demanding money in order to join the fake program.
Tech Support Call You receive a call from someone with a heavy accent claiming to be a technician Microsoft or your ISP. They inform you that your PC has a virus and your online banking and other accounts may be compromised if the virus is not removed. They'll have you type in commands and view diagnostics on your PC which shows proof of the virus. Then they'll have you install remote support software so the technician can work on your PC, remove the virus, and install security software. The cost of the labor and software can be hundreds of dollars. The scam: There's no virus. The technician isn't a technician and does not work for Microsoft or your ISP. Scammers (primarily out of India) use autodialers to cold-call everyone in the US. Any file they point out to you or command they have you run is completely benign. The software they sell you is either freeware or ineffective. What to do you if you're involved with this scam: If the scammers are remotely on your computer as you read this, turn off your PC or laptop via the power button immediately, and then if possible unplug your internet connection. Some of the more vindictive tech scammers have been known to create boot passwords on your computer if they think you've become wise to them and aren't going to pay up. Hang up on the scammers, block the number, and ignore any threats about payment. Performing a system restore on your PC is usually all that is required to remove the scammer's common remote access software. Reports of identity theft from fake tech calls are uncommon, but it would still be a good idea to change your passwords for online banking and monitor your accounts for any possible fraud. How to avoid: Ignore any calls claiming that your PC has a virus. Microsoft will never contact you. If you're unsure if a call claiming to be from your ISP is legit, hang up, and then dial the customer support number listed on a recent bill. If you have elderly relatives or family that isn't tech savvy, take the time to fill them in on this scam.
Chinese government scam
This scam is aimed at Chinese people living in Europe and North America, and involves a voicemail from someone claiming to be associated with the Chinese government, usually through the Chinese consulate/embassy, who is threatening legal action or making general threats.
Chinese shipping scam
This scam is similar to the Chinese government scam, but involves a seized/suspicious package, and the scammers will connect the victim to other scammers posing as Chinese government investigators.
Social security suspension scam
You will receive a call from someone claiming to work for the government regarding suspicious activity, fraud, or serious crimes connected to your social security number. You'll be asked to speak to an operator and the operator will explain the steps you need to follow in order to fix the problems. It's all a scam, and will lead to you losing money and could lead to identity theft if you give them private financial information.
Utilities cutoff
You get a call from someone who claims that they are from your utility company, and they claim that your utilities will be shut off unless you immediately pay. The scammer will usually ask for payment via gift cards, although they may ask for payment in other ways, such as Western Union or bitcoin.
Relative in custody Scammer claims to be the police, and they have your son/daughtenephew/estranged twin in custody. You need to post bail (for some reason in iTunes gift cards or MoneyGram) immediately or the consequences will never be the same.
Mexican family scam
This scam comes in many different flavours, but always involves someone in your family and Mexico. Sometimes the scammer will claim that your family member has been detained, sometimes the scammer will claim that your family member has been kidnapped, and sometimes the scammer will claim that your family member is injured and needs help.
General family scams
Scammers will gather a large amount of information about you and target your family members using different stories with the goal of gettimg them to send money.
One ring scam
Scammers will call you from an international number with the goal of getting you to return their call, causing you to incur expensive calling fees.

Online shopping scams

THE GOLDEN RULE OF ONLINE SHOPPING: If it sounds too good to be true, it probably is.
Dropshipping
An ad on reddit or social media sites like Facebook and Instagram offers items at huge discounts or even free (sometimes requiring you to reblog or like their page). They just ask you to pay shipping. The scam: The item will turn out to be very low quality and will take weeks or even months to arrive. Sometimes the item never arrives, and the store disappears or stops responding. The seller drop-ships the item from China. The item may only cost a few dollars, and the Chinese government actually pays for the shipping. You end up paying $10-$15 dollars for a $4 item, with the scammer keeping the profit. If you find one of these scams but really have your heart set on the item, you can find it on AliExpress or another Chinese retailer.
Influencer scams
A user will reach out to you on a social media platform, usually Instagram, and offer you the chance to partner with them and receive a free/discounted product, as long as you pay shipping. This is a different version of the dropshipping scam, and is just a marketing technique to get you to buy their products.
Triangulation fraud
Triangulation fraud occurs when you make a purchase on a site like Amazon or eBay for an item at a lower than market price, and receive an item that was clearly purchased new at full price. The scammer uses a stolen credit card to order your item, while the money from the listing is almost all profit for the scammer.
Instagram influencer scams
Someone will message you on Instagram asking you to promote their products, and offering you a discount code. The items are Chinese junk, and the offer is made to many people at a time.
Cheap Items
Many websites pop up and offer expensive products, including electronics, clothes, watches, sunglasses, and shoes at very low prices. The scam: Some sites are selling cheap knock-offs. Some will just take your money and run. What to do if you think you're involved with this scam: Contact your bank or credit card and dispute the charge. How to avoid: The sites often have every brand-name shoe or fashion item (Air Jordan, Yeezy, Gucci, etc) in stock and often at a discounted price. The site will claim to be an outlet for a major brand or even a specific line or item. The site will have images at the bottom claiming to be Secured by Norton or various official payment processors but not actual links. The site will have poor grammar and a mish-mash of categories. Recently, established websites will get hacked or their domain name jacked and turned into scam stores, meaning the domain name of the store will be completely unrelated to the items they're selling. If the deal sounds too good to be true it probably is. Nobody is offering brand new iPhones or Beats or Nintendo Switches for 75% off.
Cheap Amazon 3rd Party Items
You're on Amazon or maybe just Googling for an item and you see it for an unbelievable price from a third-party seller. You know Amazon has your back so you order it. The scam: One of three things usually happen: 1) The seller marks the items as shipped and sends a fake tracking number. Amazon releases the funds to the seller, and the seller disappears. Amazon ultimately refunds your money. 2) The seller immediately cancels the order and instructs you to re-order the item directly from their website, usually with the guarantee that the order is still protected by Amazon. The seller takes your money and runs. Amazon informs you that they do not offer protection on items sold outside of Amazon and cannot help you. 2) The seller immediately cancels the order and instructs you to instead send payment via an unused Amazon gift card by sending the code on the back via email. Once the seller uses the code, the money on the card is gone and cannot be refunded. How to avoid: These scammers can be identified by looking at their Amazon storefronts. They'll be brand new sellers offering a wide range of items at unbelievable prices. Usually their Amazon names will be gibberish, or a variation on FIRSTNAME.LASTNAME. Occasionally however, established storefronts will be hacked. If the deal is too good to be true its most likely a scam.
Scams on eBay
There are scams on eBay targeting both buyers and sellers. As a seller, you should look out for people who privately message you regarding the order, especially if they ask you to ship to a different address or ask to negotiate via text/email/a messaging service. As a buyer you should look out for new accounts selling in-demand items, established accounts selling in-demand items that they have no previous connection to (you can check their feedback history for a general idea of what they bought/sold in the past), and lookout for people who ask you to go off eBay and use another service to complete the transaction. In many cases you will receive a fake tracking number and your money will be help up for up to a month.
Scams on Amazon
There are scams on Amazon targeting both buyers and sellers. As a seller, you should look out for people who message you about a listing. As a buyer you should look out for listings that have an email address for you to contact the person to complete the transaction, and you should look out for cheap listings of in-demand items.
Scams on Reddit
Reddit accounts are frequently purchased and sold by fraudsters who wish to use the high karma count + the age of the account to scam people on buy/sell subreddits. You need to take precautions and be safe whenever you are making a transaction online.
Computer scams
Virus scam
A popup or other ad will say that you have a virus and you need to follow their advice in order to remove it. They are lying, and either want you to install malware or pay for their software.

Assorted scams

Chinese Brushing / direct shipping
If you have ever received an unsolicited small package from China, your address was used to brush. Vendors place fake orders for their own products and send out the orders so that they can increase their ratings.
Money flipping
Scammer claims to be a banking insider who can double/triple/bazoople any amount of money you send them, with no consequences of any kind. Obviously, the money disappears into their wallet the moment you send it.

General resources

Site to report scams in the United Kingdom: http://www.actionfraud.police.uk/
Site to report scams in the United States: https://www.ic3.gov/default.aspx
Site to report scams in Canada: www.antifraudcentre-centreantifraude.ca/reportincident-signalerincident/index-eng.htm
Site to report scams in Europe: https://www.europol.europa.eu/report-a-crime/report-cybercrime-online
FTC scam alerts: https://www.consumer.ftc.gov/scam-alerts
Microsoft's anti-scam guide: https://www.microsoft.com/en-us/safety/online-privacy/avoid-phone-scams.aspx
https://www.usa.gov/common-scams-frauds
https://www.usa.gov/scams-and-frauds
https://www.consumer.ftc.gov/features/scam-alerts
https://www.fbi.gov/scams-and-safety/common-fraud-schemes
submitted by EugeneBYMCMB to Scams [link] [comments]

Is using crypto a cheaper alternative to a bank wire transfer?

I don't know anything about crypto and I'm in Canada so I guess this is the right place to ask many questions. I want to be very transparent and legal.
A friend in US wants to send me some money. This is a donation/ gift. This is not something CRA collects taxes on. This is also a one time thing. The cost to send a wire transfer between his bank in US and my bank in Canada (BMO) is 40 US. My friend proposed researching to use crypto and see if the transfer fees were smaller.
I'm trying to compare the trade-off of using crypto instead of the traditional wire transfer.
I have the following questions :
  1. If I made the transfer US->crypto->CAD very fast. (trying to minimize crypto voltility) How much do you estimate I would loose in US dollars to cover the transfer?
  2. Where should I create an account? What platform? I'm not interested in trading crypto or holding it for long on a crypto wallet. I'm not concerned with giving out some personal information but I'm concerned with it being stored securely.
  3. What crypto should I use to perform the transfer quickly and safely? Is Bitcoin the best?
  4. What is the best way to transfer crypto to CAD? I have seen people here reporting problems with BMO blocking e-transfers from crypto companies since apparently there have been scams linked to e transfers before (I would like to understand how)
  5. How can I explain/demonstrate to the bank this is a donation?
  6. A bit out of topic for a possible business idea. Can a legal Canadian business regularly receive payment in crypto and deposit it in its bank account in CAD? Will banks refuse working with this business?

Thank you very much for your help!
submitted by vmmf89 to BitcoinCA [link] [comments]

[WTS] Larger Lot of Gold/Platinum/Silver/Jewelry

Proof: https://imgur.com/a/7xQGIbC
All prices based on spot price of gold @ $1,970/oz , silver @ $24.25/oz, platinum @ $915/oz (7/31/20). Prices good with gold spot below $1990, silver below $25. I am not a coin grader. The condition of any coin listed is how it was listed when I acquired it. I will be more than happy to provide any detailed, unedited photos for any coin. Unless specifically mentioned, assume coins are in generally good condition. Noticeable defects potentially affecting the value will attempt to be noted. I try to price my items substantially below the lowest price I can find online from a national dealer. If you see a legitimate cheaper price, let me know and I may very well adjust my price. FYI, I am in Eastern time zone if I do not respond, may be sleeping.
PLATINUM LISTINGS
Proof: https://imgur.com/a/FcUg9BV

Physical platinum has been hard to come by and premiums have been high. Lucky to have these to list:
1 oz Argor-Heraeus Platinum Bars in assay x 10 9 8 — $990/ea (spot plus $75)


GOLD LISTINGS
Proof: https://imgur.com/a/bGofCRx

2009-W Ultra High Relief Proof St. Gauden 24K in OGP. Quite simply, this may be the coolest coin I have ever seen! — $2,250
1 oz slabbed American Gold Eagle 25th Anniversary Early Release, MS70 NGC (2011) — $2,150 (Note: slab has some scratches on it, the coin is fine)
1924 slabbed $20 St. Gaudens gold double eagle, MS63 PCGS — $2,050
1925 Slabbed $20 St. Gaudens gold double eagle, MS64 PCGS -- $2,275
1911-S Slabbed $20 St. Gaudens gold double eagle, MS63 Blanchard — $2,200
1910 Raw $20 St. Gauden gold double eagle — $2,025
$10 Gold Liberty Head x 2 (1894, 1899) — $1,010/ea
2018-W Slabbed First Strike PCGS MS70 American Gold Eagle — $2,175
Cleaned 1899 $5 Liberty head gold coin — $535
2002 slabbed Salt Lake City Olympics $5 gold commemorative, MS69 PCGS (0.2419 oz) — $485

Proof: https://imgur.com/a/bGofCRx

100gm (10x10) Valcambi Combicard in assay. Individually @ $73/ea x 100. I will risky ship up to 3 of these in an envelope for $1 @ buyer’s risk. It will not be tracked and I do not like doing it. Would prefer $4 bubble mailer, but buyer’s choice.
1 oz gold bars in assay [Valcambi x 2 1, Sunshine Mint, PAMP Religious Romanesque (Note: some peeling of clear cover for PAMP — pictures if desired)] — $2,030
1 oz Credit Suisse gold bar, in plastic but not assay — $2,030
Sterngold, 99.95%, used in making dental alloys, 1gm each x 30. This is a unique item not likely to be found in many collector’s stash. I will risky ship up to 3 of these in an envelope for $1 @ buyer’s risk. It will not be tracked and I do not like doing it. Would prefer $4 bubble mailer, but buyer’s choice— $71/ea

Proof: https://imgur.com/a/wa1mLWZ

1oz American Gold Eagle, BU (1989, Roman numerals) — $2,060
1oz American Gold Eagle (1986, Roman numerals) — $2060
1 oz gold Pandas (1987, 2011) — 1987 sealed, BU — $2,175 ; 2011, uncirculated — $2,250
1 oz Gold Apartheid era South African Krugerrands x 42 (1975 x 2, 1977, 1978, 1979 x 27, 1980, 1981 x 8, 1982, 1984) — $2,040/ea
1 oz Gold American Buffalos (2016 x 1, 2006 x 2) [NOTE: both 2006 have a slight ding on the rim. Sealed in plastic, not ex-jewelry, but slight ding. Photos if desired)] — $2,070 for 2016, $2,065/ea for 2006’s with ding
1 oz Gold Brittania, BU (2020) — $2,065
1 oz unique Canada Golden Eagle, BU (2018). This is .99999 pure (that is five 9’s). Highest purity I am aware of — $2,070
1 oz Gold Austrian Philharmonics, BU (1994 x 1, 1999 x 1) — $2,040/ea
1 oz Gold Canadian Maple Leafs x 8 (1980 x 2, 1981, 2002 with red on “F” of fine gold on reverse, 2002 x 3 with some small scratches, 2011) — $2050/ea
1/4 oz American Gold Eagles x 6 4 (1988 Roman Numeral, 2013, 2014, 2015 x 2, 2020) — $565/ea
1/10oz American Gold Eagles in display (5 coins), BU (2006, 2012) — $1,200/ea
Empty case to display your own set of 5 1/10 oz American Gold Eagles— $10
1/4oz Gold Brittanias, BU (2013 x4) — $600/ea
50 Pesos Mexican Gold x 10 (1947 Restrikes x 8, 1943, 1944) — $2,460/ea for restrikes, $2,470/ea for ’43, ’44
1/2 oz Gold Apartheid era South African Krugerrands x 3 (1980 x 2, 1981) — $1,100/ea
1/10 oz Gold Apartheid era South African Krugerrands x 25 24 23 (various dates 1980-1984, 2011 (not apartheid era) x 1) — $240/ea
1/10 oz American Gold Eagles (various dates x 43, Roman numeral x 11 7) x 54 50 45 — $240/ea for various dates, $260/ea Roman numeral dates

Proof: https://imgur.com/a/KCjdPAy

2006 American Gold Eagle Proof Set (1 oz, 1/2 oz, 1/4 oz, 1/10 oz — 1.85 total troy oz) in OGP — $3,875
1997 Jackie Robinson $5 gold commemorative set. Comes with COA, baseball card, pin, patch, presentation box. There are some dings on the box. Pictures if desired. (0.2419 oz) — $700 (A portion of the proceeds will go toward a reputable social justice charity)
1987 & 1988 UK Gold Sovereign Proof Sets in nice case (each set has a Double Sovereign: 28.4mm, Sovereign: 22.05mm, Half Sovereign: 19.3mm) -- $1,850/each set (NOTE: the 1988 set is missing the COA.)
Austrian Ducat 4 gold coin x 2 (1915 x 2 ), 0.4438 tory oz gold — $895/ea
20 Francs Gold x 20 15 6 (11 10 4 — Roosters, 5 4 2 -- Swiss Francs, 4 1-French Empire), 0.1867 troy oz of gold/ea — $380/ea
Netherlands Gold 10 Guilder x 5, contain 0.1947 troy oz/ea (1926 x 2, 1927, 1932, 1933) — $470/ea
Gold Libertad 1/20 oz (2016) — $200 OBO
Gold Libertad 1/10 oz, BU (2016) — $340 OBO
Gold Libertad 1/10 oz proof (2016) — $350 OBO
Gold Sovereigns x 5 1, contain 7.315g gold/ea (1902, 1911, 1927 x 2 x 1, 1928) — $475/ea
1/4 oz Gold Canadian Maple (2005) — $565

Proof: https://imgur.com/a/VXzaDUN
Late Addition:
5 3 additional 1976 1 oz Krugerrands — $2,040/ea
6 additional Pandas: Don’t ask me why the premiums on Pandas are so high. They just are. I tried to price about $20+ dollars below the cheapest I could find them online at large dealers. If you find a legitimate lower price, let me know and I may very well adjust the price. 1985 — $2,150, 1987 — $2,120, 1988 — $2,095, 1990 — $2,150, 1991 — $2,150, 2002 — $2,200, 2011 — $2,240
26 25 1/10 oz Australian Battle of the Coral Sea Battle in the Pacific, in capsules — $225/ea
14 additional Netherlands gold 10 guilders — $470/ea


LOW PREMIUM LISTINGS
Proof: https://imgur.com/a/jlE0Xuu
All the time I see posts looking for precious metals “at or near spot.” Well here is your chance. If you don’t purchase these, then you are not really looking for gold at or near spot, you are looking for premium items without the premium. Those deals may be out there, but they are few and far between, with lines of buyers looking to snap them up, including myself. Items here will generally be available for spot + <2%. To get a physical form of a precious metal refined, assayed, and produced into an identifiable and verifiable form/weight/purity for a tad above spot is pretty darn good, regardless of the collectability of the item. I see people paying more premium for scrap gold than some of these.

1976 Canadian Montreal Olympic $100 commemorative (one in OGP (signs of wear), one loose with OGP in worn state but coin is fine, 0.25 oz each). You are not purchasing these for the packaging. — $500/ea
American Arts Gold Medallion Grant Wood, 1 troy oz — $2,005
2010 US Mint First Spouse Series Gold Uncirculated Mary Todd Lincoln 1/2 troy oz in OGP, NOTE: red spot on obverse (See Photo) — $1,005
Cleaned, ex-jewelry $5 Liberty head gold coin (1900, 1906 ), Note: some rim damage, will send photos if desired — $485/ea


JEWELRY LISTINGS
Proof: https://imgur.com/a/QEVcW0F

CRESCENT sterling silver pocket watch case, twist on bezel. Marked with CRESCENT, Sterling, serial number 4188. Amateur engraving with a marked name and 1919. Weighs over 100 grams!!! Pre-owned, with expected signs of tarnish and wear. A ding on back of case (see photo close up) — $75
1913 $5 Indian Head gold coin in 14K bezel, bezel weighs 1.30g — $575
2014 1/10 oz American Gold Eagle in 14K eagle pendant, bezel weighs 3.487g — $400


SILVER LISTINGS

Proof: https://imgur.com/a/MTK1BfP

Proof: https://imgur.com/a/54maJxn
25 Slabbed and Graded American Silver Eagles — Whole lot for $1,000 OBO. May make offers on individual rounds. (SOLD '92. '93, '14W)
For reference, on 8/15, APMEX wholesale site is asking $100/ea for the ‘94’s. Offering to buy ‘14-S for $50 and the NGC MS70 for $120.
—ALL NGC MS69 — 1992, 1993, 1994 x 3, 2000, 2001 x 2, 2002, 2003, 2006, 2007 —ALL NGC MS69 — 2007 Early Release x 7 —NGC MS69 — 2014(W) —NGC MS69 — 2013 First Release —PCGS MS69 — 2008 First Strike —PCGS MS69 — 2014(S) First Strike —PCGS MS69 — 2003 —NGC MS70 — 2003 
100 oz silver bars (Engelhard x 1, Ohio Precious Metals —don’t believe they will be making either of these anymore) — $2,775 /ea
20 oz Scottsdale kit kat bars (2) — $555/ea (1 left)
10 oz Queen's Beasts Series Falcons x 4 — $400/ea
2 oz Queen's Beasts Series -- tubes of Falcons x 4 ($800/ea), Yales x 4 ($580/ea)
1 oz Sunshine Minting Silver Bars x 237 199 — $28.50/ea
1 roll 2006 90% San Francisco Mint Proof Colorado State Washington Quarters — $210 (NOTE: it looks like there might be some small surface scratches on some of the coins. Therefore, they are being priced as just uncirculated.)
Men in Space Series I First Edition, .925 commemorative medals x 2 sets. These are not just sterling silver medals but history depicting the major events in the early years of NASA. https://www.worthpoint.com/worthopedia/danbury-mint-men-space-series-first-411707135 One set in original presentation packaging just like the link. One set loose with a few extra medals (2 additional medals from the 1969 Men in Space series II — 2nd Moon Landing, 1st Space Rescue; one duplicate medal from series I, and one additional First Manned Landing on the Moon Apollo 11 (slightly larger, from unknown series to me)). Sold in lots only. Lot with packaging (21 medals, 0.7 oz each) — $360. Loose lot (25 medals, 0.7 oz each plus 1 slightly larger Appollo 11 as above) — $375

Proof: https://imgur.com/gallery/hRX6XlB
Mexican Silver Lot -- Sold in lots of (10) @ $175/lot. YOU MAY MIX/MATCH
—1952-53 Mexican 5 Pesos Hidalgo, 72% silver, 0.643 troy oz silvecoin (x10)
—1977-79 Mexican 100 Pesos, 72% silver, 0.643 troy oz silvecoin (x10)
—1968— Mexican Olympic 25 Pesos, 72% silver, 0.521 troy oz silvecoin (x20)

1973 Mundinero World Trade rounds x 2 tubes — $600/ea
1973 Mundinero World Trade Rounds with 14 of the 20 being High Relief — $640
Generic Rounds (mostly buffalos, I believe ) x 10 tubes — $560/tube
Few loose generic rounds x 6 — $28/ea
2 Painted American Silver Eagles — $30/ea
’84-’85 Engelhard Prospector Rounds x 2 tubes — One tube of (20) — $660; One tube of (17) — $560
Canadian Maple Tubes of 25 x 3 (2012 x 2, 2008 x 1, NOTE: 2008 rounds have some milk spots) — $725/tube

Proof: https://imgur.com/a/XnRiLPW
Lot of 17 premium rounds: Philharmonics x4, Brittanias x 5, 2018 Republic Of Chad African Lion x 2, Krugerrands x 3, Australian Kangaroo x 1, Super Pit Australia x 2 — $488. Sold only as a lot.
Lot of fractional silver rounds, 1.35 ASW — 1/4 oz indian head, 1/4 oz walking liberty, 1/4 oz buffalo nickel, 1/10 oz indian head x 3, buffalo x 1, Morgan x 1 — $44. Sold only as a lot.

LOW PREMIUM LISTINGS
Proof: https://imgur.com/a/R9NuZj8
All the time I see posts looking for precious metals “at or near spot.” Well here is your chance. If you don’t purchase these, then you are not really looking for silver at or near spot, you are looking for premium items without the premium. Those deals may be out there, but they are few and far between, with lines of buyers looking to snap them up, including myself. Items here will generally be available for spot + <2%. To get a physical form of a precious metal refined, assayed, and produced into an identifiable and verifiable form/weight/purity for a tad above spot is pretty darn good, regardless of the collectability of the item. I see people paying more premium for scrap than some of these.

Silver war nickels @ $1.36/ea (BELOW SPOT), 8,500+ available, minimum quantity of 100

Large lot of Canadian — further info on request. Prefer to sell this in larger lots grouped together, not piecing it out or small lots. Take the whole lot for $3,000, or:
—$1.75fv, .925 — $33 —$20.25fv, ’67-’68, 50% (mostly all quarters) — $185 —$164.35fv, pre ’67, 80% (includes 65 $1) — $2,400 —1976 Montreal Olympic .925 $10 commemoratives x 9, 1.4454 troy oz/ea — $40/ea —1972 .925 $25 Cayman Island Silver Anniversary x 1, 1.5271 troy oz — $42.50 

TERMS: All eligible items are verified with a sigma precious metal verifier or Kee gold tester. Prices are generally based on the underlying spot price. Large fluctuations in spot prices could affect the price of items listed. Shipping will generally be at cost. USPS first class starts @ $4, SFRB @ $8.50, signature @ $2.50. Will insure for 1.1% of purchase price. Shipping is at buyer’s risk. All items will be tracked, but I cannot be responsible for what happens on your porch. Would recommend delivery to a secure box for precious metals. Accept in order of preference: 1st — Zelle or Venmo; 2nd — PPFF (no comments), PPG&S @ +3.0%; Last resort: I have recently acquired the ability to accept Bitcoin, but am still learning. Be patient and fees will be at buyer’s expense, but I will try to work with you if other options do not suffice. Other forms of payment will be considered. Thank you!
submitted by AgAuSeller to Pmsforsale [link] [comments]

[WTS] $15.5FV - 90% Kennedy’s, 1882 - 20 Lire 0.1867, 800 Silver Spoon, 10k,14k,18k 925 Jewelry - Necklaces, Chains, Mexican, Thailand, Bracelets, Bangles, Pendants, Rings, 10K Herringbone, 10k MEX Joseph Bracelet @ SPOT

Proof: https://imgur.com/a/o6IbJ0z
$15.50 FV - 1964 Kennedy Half Dollars - 90% Silver - $20/Per $1 Face 1 face = 2 coins, $12FV Available
8 - 1882 - 20 Lire Italian Gold - 0.1867 AGW - $375/Each 5 sold, 3 available - Melt Value = $364
2 - 2013 1 oz Canadian Silver Wood Bison Coin - $31 Each 1 available
10K Mexico Jospeh Bracelet - 7” Inches Long - 10.23 grams @ SPOT!! - $266 @ spot
14K Earrings - 1.41 Grams @ SPOT!! - $51.45 @ spot
10K Herringbone Chain - 20” Inches Long - 4mm Wide - 5.85 Grams - Melt is $153, price Is $160
Black Hills 925 Sterling Silver Bracelet With 12K Gold Leafs, 8” inches long, 20.28 grams - $120
18K Leaf Brooch - 10.76 grams @ SPOT - $507 @ spot
14K ArtCarved White Gold Ring, Size 8.5, 6 grams - $300
14K Gold Ring, Size 7.5, 5.26 grams - $240
RGVS 14K Slider Bracelet, 31.34 grams - $1625 or best offer
14K Opal/Diamond Pendant, 8.61 grams - $1,600 On Consignment Ask Me About It If Intrested
10K Opal Ring - 5 Carat Opal - Size 6.5 - 8.66 grams - $650
14k Gold Bracelet 11.5 grams, 31 diamonds - $600
10K Opal Ring, Size 6.75 - $295
10K Australian Opal Ring - Size 6.75 - 3.02 Grams - $225
14K Blue Stone/Diamond Pendant, 4.66 grams - $245
14K Oval Jadeite Cabochon Greek Key Ring, HONG KONG, SIZE 10 - $295
14K Beautiful Yellow/Orange/Green/White/Black Stone Pendant - 13.71 grams - $475
10K Brown Stone Ring, Size 7.25 - $220
10K Red Stone Ring, Size 6.25 - $115
10K Light Blue/Green Rock Diamond Ring - Size 6.5 - 2.14 Grams - $95
14k Light Purple Pendant - 0.42 grams - $30
Buy All Scrap Gold and I’ll cover the shipping - 13.23 grams of 14k and 2.03 grams of 10k - ALL 10% Below MELT
14K Gold Scrap/Refine Lot - 6.35 Grams - 10% Below Spot - $208.54
14K Ring - 10% below spot - gold scrap/refine - 2.27 grams - $74.53
14k - Gold Scrap/Refine Lot - 2.45 grams - 10% below spot - $77.15
14k gold lot - 2.16 grams - 10% below melt - $70.92
10K Scrap/Refine - 2.03 grams - 10% Below Melt - $47.61 If interested in more scrap I have more available, just ask**
14K Diamond Ring, Size 7, 8.29 grams @ SPOT - $302 @ spot
14K White/Clear RingRock Size 4.5, 3.42 Grams @ SPOT. - $125 @ spot
14k Opal Ring, Size 6.75, 3.63 Grams @ SPOT - $132 @ spot
10K Red Stone Ring, Size 7.25, 5.55 grams @ SPOT - $144.84 @ spot
14K White/Clear Rock Ring, 1.78 grams, size 7.5 @ SPOT - $65 @ spot
14K White/Clear Rock Ring, Size 7.25, 4.43 grams @ SPOT - $161 @ spot
10K Green Rock Ring, Size 8.25, 4.93 grams @ SPOT - $129 @ spot
10K Pink Rock Ring, Size 6.75, 4.91 grams @ SPOT - $128 @ spot
Austrian 800 Silver Spoon - 12.07 grams - 80% Silver @ SPOT!! - $8.43
925 Italy Sterling Silver Bracelet - 7” Inches Long - $14
925 Italy Sterling Silver Bracelet- 8” Inches Long - $14
925 Italy Sterling Silver Bracelet- 7” Inches Long - 7.36 Grams - $15
925 Italy Sterling Silver Gold Plated Bracelet- 8” Inches Long - 15.07 Grams - $26
925 Sterling Silver Beaded Bracelet - 8”Inches Long - $30
2 - 925 Mexico Taxco Sterling Silver Bracelet/Bangle - 2.5” Inch Diameter - $40/Each
925 Mexico TC-177 Bracelet Sterling Silver - Diameter 2-3” Inches Adjustable - 20.86 grams - $40
925 Los Ballesteros Sterling Panel Bracelet - 42.87g - $50
Siam Sterling Silver Bangle Bracelet Etched Design Pattern - $55
925 Sterling Silver SU Thailand Adjustable Cuff Cable Bracelet - 3” Inch Adjustable Diameter - 24.87 grams - $65
925 Thai Sterling Silver Necklace with Black Gemstone Dress Pendant - 18.5” Inches Long - $15
925 Sterling Silver Necklace with Blue Stone Pendant - 17” Inches Long - $25
925 Sterling Silver Necklace With Pearl Pendant - 16” Inches Long - 22.42 grams - $40
925 Green Rock Ring, Size 8.75 - **$15
925 Sterling Silver Ring With White/Blue Stone Size 6.5 - **$10
925 Sterling Silver Green Rock Moveable Ring - Size 6-6.25 - 7.41 grams - $20
925 Sterling Silver Ring - Size 7 - 13.62 grams - $20
925 Sterling Silver Ruby? Ring - Size 7 - 2.69 Grams - $50
925 Liquid Silver 30 Strand Necklace With 10 Strand Earrings - $60
925 Wells Sterling Silver Leaf Brooch - $8
925 Sterling Silver Leaf/Green Stone Brooch - 7.46g - $14
925 Sterling Silver Belt Buckle Blue/White/Red/Dark Blue - 24.87 Grams @ SPOT - $20.08
925 Sterling Silver Rose Pendant - $5
925 Thailand Sterling Silver Heart Pendant - $5
Aspire 925 Sterling Silver - My Family Tree Pendant - $7
925 Mexico MM-34 Sterling Silver Heart Pendant - $15
Bell Trading Post Abalone 925 Sterling Silver Vintage Pendant 1936-1969 - $15
ATI Mexico 925 Sterling Silver Black Onyx Pendant - 22.18g - $30
Payment
I accept PayPal Friends and Family, Zelle, Venmo, Cash App, Zelle, Google pay
Bitcoin and other crypto currencies now accepted
Shipping
0-4 oz - $4 5-8 oz - $4.25 9-12 oz - $6 Priority shipping =$8, Stamped envelope - $1, medium flat rate box = $15
•Signature Confirmation $3 (Optional)
•Insurance is also available at buyers expense.
•I pack safely and discretely.
•Prices are subject to change at any moments notice.
•Message me if you have any questions.
•All packages will be dropped off on Friday or Saturday.
•Once I drop the package at the post office I’m not responsible for USPS mistakes or losses
submitted by Redditaccount1543354 to Pmsforsale [link] [comments]

Bob The Magic Custodian



Summary: Everyone knows that when you give your assets to someone else, they always keep them safe. If this is true for individuals, it is certainly true for businesses.
Custodians always tell the truth and manage funds properly. They won't have any interest in taking the assets as an exchange operator would. Auditors tell the truth and can't be misled. That's because organizations that are regulated are incapable of lying and don't make mistakes.

First, some background. Here is a summary of how custodians make us more secure:

Previously, we might give Alice our crypto assets to hold. There were risks:

But "no worries", Alice has a custodian named Bob. Bob is dressed in a nice suit. He knows some politicians. And he drives a Porsche. "So you have nothing to worry about!". And look at all the benefits we get:
See - all problems are solved! All we have to worry about now is:
It's pretty simple. Before we had to trust Alice. Now we only have to trust Alice, Bob, and all the ways in which they communicate. Just think of how much more secure we are!

"On top of that", Bob assures us, "we're using a special wallet structure". Bob shows Alice a diagram. "We've broken the balance up and store it in lots of smaller wallets. That way", he assures her, "a thief can't take it all at once". And he points to a historic case where a large sum was taken "because it was stored in a single wallet... how stupid".
"Very early on, we used to have all the crypto in one wallet", he said, "and then one Christmas a hacker came and took it all. We call him the Grinch. Now we individually wrap each crypto and stick it under a binary search tree. The Grinch has never been back since."

"As well", Bob continues, "even if someone were to get in, we've got insurance. It covers all thefts and even coercion, collusion, and misplaced keys - only subject to the policy terms and conditions." And with that, he pulls out a phone-book sized contract and slams it on the desk with a thud. "Yep", he continues, "we're paying top dollar for one of the best policies in the country!"
"Can I read it?' Alice asks. "Sure," Bob says, "just as soon as our legal team is done with it. They're almost through the first chapter." He pauses, then continues. "And can you believe that sales guy Mike? He has the same year Porsche as me. I mean, what are the odds?"

"Do you use multi-sig?", Alice asks. "Absolutely!" Bob replies. "All our engineers are fully trained in multi-sig. Whenever we want to set up a new wallet, we generate 2 separate keys in an air-gapped process and store them in this proprietary system here. Look, it even requires the biometric signature from one of our team members to initiate any withdrawal." He demonstrates by pressing his thumb into the display. "We use a third-party cloud validation API to match the thumbprint and authorize each withdrawal. The keys are also backed up daily to an off-site third-party."
"Wow that's really impressive," Alice says, "but what if we need access for a withdrawal outside of office hours?" "Well that's no issue", Bob says, "just send us an email, call, or text message and we always have someone on staff to help out. Just another part of our strong commitment to all our customers!"

"What about Proof of Reserve?", Alice asks. "Of course", Bob replies, "though rather than publish any blockchain addresses or signed transaction, for privacy we just do a SHA256 refactoring of the inverse hash modulus for each UTXO nonce and combine the smart contract coefficient consensus in our hyperledger lightning node. But it's really simple to use." He pushes a button and a large green checkmark appears on a screen. "See - the algorithm ran through and reserves are proven."
"Wow", Alice says, "you really know your stuff! And that is easy to use! What about fiat balances?" "Yeah, we have an auditor too", Bob replies, "Been using him for a long time so we have quite a strong relationship going! We have special books we give him every year and he's very efficient! Checks the fiat, crypto, and everything all at once!"

"We used to have a nice offline multi-sig setup we've been using without issue for the past 5 years, but I think we'll move all our funds over to your facility," Alice says. "Awesome", Bob replies, "Thanks so much! This is perfect timing too - my Porsche got a dent on it this morning. We have the paperwork right over here." "Great!", Alice replies.
And with that, Alice gets out her pen and Bob gets the contract. "Don't worry", he says, "you can take your crypto-assets back anytime you like - just subject to our cancellation policy. Our annual management fees are also super low and we don't adjust them often".

How many holes have to exist for your funds to get stolen?
Just one.

Why are we taking a powerful offline multi-sig setup, widely used globally in hundreds of different/lacking regulatory environments with 0 breaches to date, and circumventing it by a demonstrably weak third party layer? And paying a great expense to do so?
If you go through the list of breaches in the past 2 years to highly credible organizations, you go through the list of major corporate frauds (only the ones we know about), you go through the list of all the times platforms have lost funds, you go through the list of times and ways that people have lost their crypto from identity theft, hot wallet exploits, extortion, etc... and then you go through this custodian with a fine-tooth comb and truly believe they have value to add far beyond what you could, sticking your funds in a wallet (or set of wallets) they control exclusively is the absolute worst possible way to take advantage of that security.

The best way to add security for crypto-assets is to make a stronger multi-sig. With one custodian, what you are doing is giving them your cryptocurrency and hoping they're honest, competent, and flawlessly secure. It's no different than storing it on a really secure exchange. Maybe the insurance will cover you. Didn't work for Bitpay in 2015. Didn't work for Yapizon in 2017. Insurance has never paid a claim in the entire history of cryptocurrency. But maybe you'll get lucky. Maybe your exact scenario will buck the trend and be what they're willing to cover. After the large deductible and hopefully without a long and expensive court battle.

And you want to advertise this increase in risk, the lapse of judgement, an accident waiting to happen, as though it's some kind of benefit to customers ("Free institutional-grade storage for your digital assets.")? And then some people are writing to the OSC that custodians should be mandatory for all funds on every exchange platform? That this somehow will make Canadians as a whole more secure or better protected compared with standard air-gapped multi-sig? On what planet?

Most of the problems in Canada stemmed from one thing - a lack of transparency. If Canadians had known what a joke Quadriga was - it wouldn't have grown to lose $400m from hard-working Canadians from coast to coast to coast. And Gerald Cotten would be in jail, not wherever he is now (at best, rotting peacefully). EZ-BTC and mister Dave Smilie would have been a tiny little scam to his friends, not a multi-million dollar fraud. Einstein would have got their act together or been shut down BEFORE losing millions and millions more in people's funds generously donated to criminals. MapleChange wouldn't have even been a thing. And maybe we'd know a little more about CoinTradeNewNote - like how much was lost in there. Almost all of the major losses with cryptocurrency exchanges involve deception with unbacked funds.
So it's great to see transparency reports from BitBuy and ShakePay where someone independently verified the backing. The only thing we don't have is:
It's not complicated to validate cryptocurrency assets. They need to exist, they need to be spendable, and they need to cover the total balances. There are plenty of credible people and firms across the country that have the capacity to reasonably perform this validation. Having more frequent checks by different, independent, parties who publish transparent reports is far more valuable than an annual check by a single "more credible/official" party who does the exact same basic checks and may or may not publish anything. Here's an example set of requirements that could be mandated:
There are ways to structure audits such that neither crypto assets nor customer information are ever put at risk, and both can still be properly validated and publicly verifiable. There are also ways to structure audits such that they are completely reasonable for small platforms and don't inhibit innovation in any way. By making the process as reasonable as possible, we can completely eliminate any reason/excuse that an honest platform would have for not being audited. That is arguable far more important than any incremental improvement we might get from mandating "the best of the best" accountants. Right now we have nothing mandated and tons of Canadians using offshore exchanges with no oversight whatsoever.

Transparency does not prove crypto assets are safe. CoinTradeNewNote, Flexcoin ($600k), and Canadian Bitcoins ($100k) are examples where crypto-assets were breached from platforms in Canada. All of them were online wallets and used no multi-sig as far as any records show. This is consistent with what we see globally - air-gapped multi-sig wallets have an impeccable record, while other schemes tend to suffer breach after breach. We don't actually know how much CoinTrader lost because there was no visibility. Rather than publishing details of what happened, the co-founder of CoinTrader silently moved on to found another platform - the "most trusted way to buy and sell crypto" - a site that has no information whatsoever (that I could find) on the storage practices and a FAQ advising that “[t]rading cryptocurrency is completely safe” and that having your own wallet is “entirely up to you! You can certainly keep cryptocurrency, or fiat, or both, on the app.” Doesn't sound like much was learned here, which is really sad to see.
It's not that complicated or unreasonable to set up a proper hardware wallet. Multi-sig can be learned in a single course. Something the equivalent complexity of a driver's license test could prevent all the cold storage exploits we've seen to date - even globally. Platform operators have a key advantage in detecting and preventing fraud - they know their customers far better than any custodian ever would. The best job that custodians can do is to find high integrity individuals and train them to form even better wallet signatories. Rather than mandating that all platforms expose themselves to arbitrary third party risks, regulations should center around ensuring that all signatories are background-checked, properly trained, and using proper procedures. We also need to make sure that signatories are empowered with rights and responsibilities to reject and report fraud. They need to know that they can safely challenge and delay a transaction - even if it turns out they made a mistake. We need to have an environment where mistakes are brought to the surface and dealt with. Not one where firms and people feel the need to hide what happened. In addition to a knowledge-based test, an auditor can privately interview each signatory to make sure they're not in coercive situations, and we should make sure they can freely and anonymously report any issues without threat of retaliation.
A proper multi-sig has each signature held by a separate person and is governed by policies and mutual decisions instead of a hierarchy. It includes at least one redundant signature. For best results, 3of4, 3of5, 3of6, 4of5, 4of6, 4of7, 5of6, or 5of7.

History has demonstrated over and over again the risk of hot wallets even to highly credible organizations. Nonetheless, many platforms have hot wallets for convenience. While such losses are generally compensated by platforms without issue (for example Poloniex, Bitstamp, Bitfinex, Gatecoin, Coincheck, Bithumb, Zaif, CoinBene, Binance, Bitrue, Bitpoint, Upbit, VinDAX, and now KuCoin), the public tends to focus more on cases that didn't end well. Regardless of what systems are employed, there is always some level of risk. For that reason, most members of the public would prefer to see third party insurance.
Rather than trying to convince third party profit-seekers to provide comprehensive insurance and then relying on an expensive and slow legal system to enforce against whatever legal loopholes they manage to find each and every time something goes wrong, insurance could be run through multiple exchange operators and regulators, with the shared interest of having a reputable industry, keeping costs down, and taking care of Canadians. For example, a 4 of 7 multi-sig insurance fund held between 5 independent exchange operators and 2 regulatory bodies. All Canadian exchanges could pay premiums at a set rate based on their needed coverage, with a higher price paid for hot wallet coverage (anything not an air-gapped multi-sig cold wallet). Such a model would be much cheaper to manage, offer better coverage, and be much more reliable to payout when needed. The kind of coverage you could have under this model is unheard of. You could even create something like the CDIC to protect Canadians who get their trading accounts hacked if they can sufficiently prove the loss is legitimate. In cases of fraud, gross negligence, or insolvency, the fund can be used to pay affected users directly (utilizing the last transparent balance report in the worst case), something which private insurance would never touch. While it's recommended to have official policies for coverage, a model where members vote would fully cover edge cases. (Could be similar to the Supreme Court where justices vote based on case law.)
Such a model could fully protect all Canadians across all platforms. You can have a fiat coverage governed by legal agreements, and crypto-asset coverage governed by both multi-sig and legal agreements. It could be practical, affordable, and inclusive.

Now, we are at a crossroads. We can happily give up our freedom, our innovation, and our money. We can pay hefty expenses to auditors, lawyers, and regulators year after year (and make no mistake - this cost will grow to many millions or even billions as the industry grows - and it will be borne by all Canadians on every platform because platforms are not going to eat up these costs at a loss). We can make it nearly impossible for any new platform to enter the marketplace, forcing Canadians to use the same stagnant platforms year after year. We can centralize and consolidate the entire industry into 2 or 3 big players and have everyone else fail (possibly to heavy losses of users of those platforms). And when a flawed security model doesn't work and gets breached, we can make it even more complicated with even more people in suits making big money doing the job that blockchain was supposed to do in the first place. We can build a system which is so intertwined and dependent on big government, traditional finance, and central bankers that it's future depends entirely on that of the fiat system, of fractional banking, and of government bail-outs. If we choose this path, as history has shown us over and over again, we can not go back, save for revolution. Our children and grandchildren will still be paying the consequences of what we decided today.
Or, we can find solutions that work. We can maintain an open and innovative environment while making the adjustments we need to make to fully protect Canadian investors and cryptocurrency users, giving easy and affordable access to cryptocurrency for all Canadians on the platform of their choice, and creating an environment in which entrepreneurs and problem solvers can bring those solutions forward easily. None of the above precludes innovation in any way, or adds any unreasonable cost - and these three policies would demonstrably eliminate or resolve all 109 historic cases as studied here - that's every single case researched so far going back to 2011. It includes every loss that was studied so far not just in Canada but globally as well.
Unfortunately, finding answers is the least challenging part. Far more challenging is to get platform operators and regulators to agree on anything. My last post got no response whatsoever, and while the OSC has told me they're happy for industry feedback, I believe my opinion alone is fairly meaningless. This takes the whole community working together to solve. So please let me know your thoughts. Please take the time to upvote and share this with people. Please - let's get this solved and not leave it up to other people to do.

Facts/background/sources (skip if you like):



Thoughts?
submitted by azoundria2 to QuadrigaInitiative [link] [comments]

3iQ's Bitcoin Fund begins trading in Canadian Dollars after $100M milestone

This post was originally published on this siteThis post was originally published on this site According to a recent announcement, Class A Units of 3iQ’s The Bitcoin Fund have begun trading in Canadian dollars on the Toronto Stock Exchange under the symbol “QBTC.” The trade was initiated on the 20th of October. This is a crucial development, with the importance of the […]
submitted by FuzzyOneAdmin to fuzzyone [link] [comments]

Why are landlords such a hated group on this subreddit?

You could see before that landlords were a very hated group across this and other Canadian subreddits, but this pandemic has really brought it out. I am seeing a lot of posts (from people I am assuming are not landlords) where people are praising the fact that the rules put in place prevent evictions if they are not paying rent, but are against any stimulus for landlords - essentially forcing landlords to foot the bill for their tenants to live. I have no problems with preventing evictions in this time, but if the government is going to allow renters to stop paying - part of the stimulus package should go to affected landlords. I think a lot of the hate and rationale for saying the landlords should pay the bill lies with the assumption that landlords have and make lots of money. This is not a fair assumption that should be blanketed on landlords, unless it is a big company, a lot of landlords have a majority of their savings tied up in the asset and actually have to live a lower quality life for many years because they have to subsidize the rental property that doesn’t cash flow while tying up hundreds of thousands of dollars. And do they make a ton of money? No. Unless your property appreciates at extreme levels (yes the GTA and GVA fall under this category) they do not make a ton of money. Considering they are extra work, they roughly compete with the stock market for yearly returns. If you do manage to get extreme appreciate, its really no different than holding bitcoin. You got lucky and made some money, congrats! Not a reason I see to hate anyone.
I have also seen a lot of people calling for the banning of rental properties. Its hard for me to even put out reasons why this is a bad idea because it is just so dumb. Not everyone wants, or can buy. Eliminating rentals would force a TON of people to be homeless and this isn’t even mentioning how restrictive this is on individual rights and freedoms. “But it will make housing affordable” it will also stop homes from being built for decades because home prices will be lower than the cost of building. This will result in a ton of empty homes (the ones leftover where people still cant afford them but you can’t rent them either) and no new homes. Rent control would cause a similar thing, however not to the same magnitude. You could nationalize housing, but that would be a major political reform and if extreme government intervention is what you want, it would probably be worth it just to consider relocating to a country better suited to your needs. “But housing is a necessity!!” So are groceries, but no one expects the grocery stores to give everyone free food.
I have also seen the excuse for being allowed to blanket hate all landlords because “they chose to do it” which is another misconception as well. Lots of people end of as landlords through unexpected life events such as inheritance, needing to move and not being able to sell for the equity you have in the house (selling would cost money), moving in with a partner but not wanting to sell your home yet, or even having to rent a basement or something to make ends meet.
So, if you are one of the people who hates landlords, please give me your reasons and I will try to understand your point or maybe provide some reasons on why I disagree with it.
submitted by iwatchcredits to PersonalFinanceCanada [link] [comments]

How do Bitcoin retailers manage risk given the volatility?

Given the higher volatility of Bitcoin, how can such a business operate?

- When a client comes to exchange say canadian dollars for Bitcoin, once completed, does the retailer immediately log into their online exchange account and offset the transaction?
In other words, if the retailer charges a 6% markup on the spot price, as soon as the transaction is completed, does he close his exposure right away?

- If they wait until the end of the day, allowing the business to benefit from the buyers of BTC and sellers of BTC, offsetting each other and only settling the difference at the end of the day on an online Bitcoin exchange, this involves considerable risk (Bitcoin might of moved a few percentages intraday...maybe by more than the retailers markup).

Is anyone familiar with the risk model?
submitted by B2KMTL to BitcoinCA [link] [comments]

More ways to support The Program audio series are now live!

In addition to already existing ways to support the show through Buy me a coffee and PayPal, you can now support The Program through Patreon, Liberapay, Bitcoin, and Interac (for the fellow Canadians).
All continuous supporters who decide to donate $3 or more monthly and all one-time supporters who make a donation of $15 or more get all the bonus content created so far:
100% of the money you donate goes directly into the production costs, and not a single dollar is spent on Google or Facebook ads or anything obscene like that. So head to programaudioseries.com/support and support the creation of the thing you love. Remember, if the podcast is worth listening to, it is worth paying for™.
submitted by IvanMirkoS to ProgramAudioSeries [link] [comments]

[WTS] $15.5FV - 90% Kennedy’s, 1882 - 20 Lire 0.1867, 800 Silver Spoon, 10k,14k,18k 925 Jewelry - Necklaces, Chains, Mexican, Thailand, Bracelets, Bangles, Pendants, Rings, 10K Herringbone, 10k MEX Joseph Bracelet @ SPOT

Proof: https://imgur.com/a/o6IbJ0z
$15.50 FV - 1964 Kennedy Half Dollars - 90% Silver - $20/Per $1 Face 1 face = 2 coins, $12FV Available
8 - 1882 - 20 Lire Italian Gold - 0.1867 AGW - $375/Each 5 sold, 3 available
2 - 2013 1 oz Canadian Silver Wood Bison Coin - $31 Each 1 available
10K Mexico Jospeh Bracelet - 7” Inches Long - 10.23 grams @ SPOT!! - $266
14K Earrings - 1.41 Grams @ SPOT!! - $51.45
10K Herringbone Chain - 20” Inches Long - 4mm Wide - 5.85 Grams - Melt is $153, price Is $160
Black Hills 925 Sterling Silver Bracelet With 12K Gold Leafs, 8” inches long, 20.28 grams - $120
18K Leaf Brooch - 10.76 grams @ SPOT - $507
14K ArtCarved White Gold Ring, Size 8.5, 6 grams - $300
14K Gold Ring, Size 7.5, 5.26 grams - $240
RGVS 14K Slider Bracelet, 31.34 grams - $1625 or best offer
14K Opal/Diamond Pendant, 8.61 grams - $1,600 On Consignment Ask Me About It If Intrested
10K Opal Ring - 5 Carat Opal - Size 6.5 - 8.66 grams - $650
14k Gold Bracelet 11.5 grams, 31 diamonds - $600
10K Opal Ring, Size 6.75 - $295
10K Australian Opal Ring - Size 6.75 - 3.02 Grams - $225
14K Blue Stone/Diamond Pendant, 4.66 grams - $245
14K Oval Jadeite Cabochon Greek Key Ring, HONG KONG, SIZE 10 - $295
14K Beautiful Yellow/Orange/Green/White/Black Stone Pendant - 13.71 grams - $475
10K Brown Stone Ring, Size 7.25 - $220
10K Red Stone Ring, Size 6.25 - $115
10K Light Blue/Green Rock Diamond Ring - Size 6.5 - 2.14 Grams - $95
14k Light Purple Pendant - 0.42 grams - $30
Buy All Scrap Gold and I’ll cover the shipping - 13.23 grams of 14k and 2.03 grams of 10k - ALL 10% Below MELT
14K Gold Scrap/Refine Lot - 6.35 Grams - 10% Below Spot - $208.54
14K Ring - 10% below spot - gold scrap/refine - 2.27 grams - $74.53
14k - Gold Scrap/Refine Lot - 2.45 grams - 10% below spot - $77.15
14k gold lot - 2.16 grams - 10% below melt - $70.92
10K Scrap/Refine - 2.03 grams - 10% Below Melt - $47.61 If interested in more scrap I have more available, just ask**
14K Diamond Ring, Size 7, 8.29 grams @ SPOT - $302
14K White/Clear RingRock Size 4.5, 3.42 Grams @ SPOT. - $125
14k Opal Ring, Size 6.75, 3.63 Grams @ SPOT - $132
10K Red Stone Ring, Size 7.25, 5.55 grams @ SPOT - $144.84
14K White/Clear Rock Ring, 1.78 grams, size 7.5 @ SPOT - $65
14K White/Clear Rock Ring, Size 7.25, 4.43 grams @ SPOT - $161
10K Green Rock Ring, Size 8.25, 4.93 grams @ SPOT - $129
10K Pink Rock Ring, Size 6.75, 4.91 grams @ SPOT - $128
Austrian 800 Silver Spoon - 12.07 grams - 80% Silver @ SPOT!! - $8.43
925 Italy Sterling Silver Bracelet - 7” Inches Long - $14
925 Italy Sterling Silver Bracelet- 8” Inches Long - $14
925 Italy Sterling Silver Bracelet- 7” Inches Long - 7.36 Grams - $15
925 Italy Sterling Silver Gold Plated Bracelet- 8” Inches Long - 15.07 Grams - $26
925 Sterling Silver Beaded Bracelet - 8”Inches Long - $30
2 - 925 Mexico Taxco Sterling Silver Bracelet/Bangle - 2.5” Inch Diameter - $40/Each
925 Mexico TC-177 Bracelet Sterling Silver - Diameter 2-3” Inches Adjustable - 20.86 grams - $40
925 Los Ballesteros Sterling Panel Bracelet - 42.87g - $50
Siam Sterling Silver Bangle Bracelet Etched Design Pattern - $55
925 Sterling Silver SU Thailand Adjustable Cuff Cable Bracelet - 3” Inch Adjustable Diameter - 24.87 grams - $65
925 Thai Sterling Silver Necklace with Black Gemstone Dress Pendant - 18.5” Inches Long - $15
925 Sterling Silver Necklace with Blue Stone Pendant - 17” Inches Long - $25
925 Sterling Silver Necklace With Pearl Pendant - 16” Inches Long - 22.42 grams - $40
925 Green Rock Ring, Size 8.75 - **$15
925 Sterling Silver Ring With White/Blue Stone Size 6.5 - **$10
925 Sterling Silver Green Rock Moveable Ring - Size 6-6.25 - 7.41 grams - $20
925 Sterling Silver Ring - Size 7 - 13.62 grams - $20
925 Sterling Silver Ruby? Ring - Size 7 - 2.69 Grams - $50
925 Liquid Silver 30 Strand Necklace With 10 Strand Earrings - $60
925 Wells Sterling Silver Leaf Brooch - $8
925 Sterling Silver Leaf/Green Stone Brooch - 7.46g - $14
925 Sterling Silver Belt Buckle Blue/White/Red/Dark Blue - 24.87 Grams @ SPOT - $20.08
925 Sterling Silver Rose Pendant - $5
925 Thailand Sterling Silver Heart Pendant - $5
Aspire 925 Sterling Silver - My Family Tree Pendant - $7
925 Mexico MM-34 Sterling Silver Heart Pendant - $15
Bell Trading Post Abalone 925 Sterling Silver Vintage Pendant 1936-1969 - $15
ATI Mexico 925 Sterling Silver Black Onyx Pendant - 22.18g - $30
Payment
I accept PayPal Friends and Family, Zelle, Venmo, Cash App, Zelle, Google pay
Bitcoin and other crypto currencies now accepted
Shipping
0-4 oz - $4 5-8 oz - $4.25 9-12 oz - $6 Priority shipping =$8, Stamped envelope - $1, medium flat rate box = $15
•Signature Confirmation $3 (Optional)
•Insurance is also available at buyers expense.
•I pack safely and discretely.
•Prices are subject to change at any moments notice.
•Message me if you have any questions.
•All packages will be dropped off on Friday or Saturday.
•Once I drop the package at the post office I’m not responsible for USPS mistakes or losses
submitted by Redditaccount1543354 to Coins4Sale [link] [comments]

100 Trillion Dollar Bitcoin Catalyst - YouTube How To Sell Bitcoin In Canada  Easiest Way To Cashout ... I Tried Day Trading Bitcoin for a Week  Beginner Crypto ... usd to cadcad to usdcanadian dollar to usdcanadian dollar ratecanadian dollar to inr Bitcoin Update - just buy $1 worth of bitcoin please ...

BTC/CAD CURRENT RATE. 1 BTC - Bitcoin Canadian Dollar - CAD. CA$ 17,221.56 See the live Bitcoin to Canadian Dollar exchange rate. Convert amounts to or from CAD (and other currencies) with this simple Bitcoin calculator. BTC to CAD (Bitcoin in Canadian Dollars) live updated realtime exchange conversion. Live Bitcoin price in Canadian $. BTC to CAD exchange rate, chart (weekly, intraday, monthly, yearly) at liveBTCprice.com. live Bitcoin Price . 24-hour updated BTC rate. EUR/USD. 1.1769 +0.07% (+0.0008) BTC/USD. 10638.60 +0.56% (+59.6) BTC/EUR. 9040.40 +0.06% (+5.3) BTC/GBP. 8244.80 +0.23% (+19.0) Live BTC ... Convert Bitcoins to Canadian Dollars with a conversion calculator, or Bitcoins to Canadian Dollars conversion tables. Compare money transfer services, compare exchange rates and commissions for sending money from Bitcoin to Canada. Also, view Bitcoin to Canadian Dollar currency charts. How much is 1 Bitcoin in Canadian Dollar. Last update: 26/09/2020. In this page you can find, in the golden box, how much 1 Bitcoin is worth in Canadian Dollar, in real time. Ultimo Aggiornamento: 26/09/2020. 1 BTC = 14298.7600 CAD. Trading without commissions. Currency Converter. Quick Converter . 5 BTC in CAD = 71.493,80 &dollar; 10 BTC in CAD = 142.987,60 &dollar; 50 BTC in CAD = 714.938,00 ...

[index] [39526] [10333] [8480] [12327] [41953] [7701] [28965] [24020] [48676] [41380]

100 Trillion Dollar Bitcoin Catalyst - YouTube

Canadian dollars in abundance. Breaking News! BitMEX pegs Bitcoin to $7,350 as new stable coin! The banks battle with Bitcoin! Looking for a way to Sell Bitcoin easily in Canada? The Bylls website is the beast and easiest way to sell your bitcoin in Canada with NO FEES! I've used thi... Share your videos with friends, family, and the world http://bitcoinprice.tech/the-bitcoin-price-in-canada/ Bitcoin Price in Canada Currency experts point out that Canada is a resource-rich country, and the valu... This video describes how you exchange you Canadian dollars to get bitcoin on Shakepay in Canada

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