I think it's absolutely stupid - except for the part about the stablecoins. The Satoshitest couldn't be more stupid either😅 but we'll have to live with that - or only buy on P2P platforms in future, which I'm not averse to either wäre🤷♂️
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@stefan_21 Stupid question: How do I want to prove that I bought btc 7 years ago, but I don't have all the documents?
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@Alpalaka In this case, the regulated MiCa exchange is not allowed to accept your Bitcoin annehmen🤷♂️
To what extent the exchange has freedom and can say that it believes you bought the coins 7 years ago on exchange xy, I don't know😅
To what extent the exchange has freedom and can say that it believes you bought the coins 7 years ago on exchange xy, I don't know😅
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@stefan_21 Maybe this only counts for Bitcoin that are bought from 31.12.24 and not those that you already own or bought before 31.12.24?
Apart from that, I think the points are quite good.
Especially the first point. This can be helpful to ensure that you don't accidentally send your BTC to the wrong address.
Point 2 can help to identify stolen BTC. So also a good idea.
Apart from that, I think the points are quite good.
Especially the first point. This can be helpful to ensure that you don't accidentally send your BTC to the wrong address.
Point 2 can help to identify stolen BTC. So also a good idea.
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•@Mcl1991 Well... the first point is implemented by the Satoshi test...
Meaning: You send your Bitcoin to an exchange - you will then be shown a random number of Satoshis. You then have to send these Satoshis from your address to confirm that you are the owner. I mean, it would also be impossible to tell a third person to send X amount again😆
Furthermore, the satoshis must come from your address. If you have nothing left at the address, you first have to send Bitcoin there in order to send it from there to the exchange.
For example, if you have 1 UTXO of 0.1 Bitcoin on an address and send 0.09 to the exchange, then you will no longer have the remaining 0.01 on the address, but as change on a change address. You then have to send this to the original address in order to pass the Satoshi test...
You could also simply sign a message with your private key, but the bureaucrats probably weren't quite aware of that😅
Point 2 is also absolute nonsense in my eyes. If I'm a criminal and want to sell stolen Bitcoin, then I don't use a regulated exchange...
Honest people suffer as a result of this and are bullied by the bureaucracy, the exchanges have to spend an incredible amount of money to implement all this and in the end it doesn't bring any added value😅 but well... I could always get terribly upset😂
Meaning: You send your Bitcoin to an exchange - you will then be shown a random number of Satoshis. You then have to send these Satoshis from your address to confirm that you are the owner. I mean, it would also be impossible to tell a third person to send X amount again😆
Furthermore, the satoshis must come from your address. If you have nothing left at the address, you first have to send Bitcoin there in order to send it from there to the exchange.
For example, if you have 1 UTXO of 0.1 Bitcoin on an address and send 0.09 to the exchange, then you will no longer have the remaining 0.01 on the address, but as change on a change address. You then have to send this to the original address in order to pass the Satoshi test...
You could also simply sign a message with your private key, but the bureaucrats probably weren't quite aware of that😅
Point 2 is also absolute nonsense in my eyes. If I'm a criminal and want to sell stolen Bitcoin, then I don't use a regulated exchange...
Honest people suffer as a result of this and are bullied by the bureaucracy, the exchanges have to spend an incredible amount of money to implement all this and in the end it doesn't bring any added value😅 but well... I could always get terribly upset😂
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@stefan_21 Point 1 is not quite correctly described by you, is it? According to my quick research, it looks like this:
- The VASP will send a randomly generated, small amount of cryptocurrency (usually between 50 cents and one euro) to the user's wallet address.
- The user must confirm the transfer within a certain time window (usually 90 minutes) by sending the cryptocurrency back to the VASP address.
- If the transfer is successful, the user is confirmed as the owner of the wallet address and can proceed with the withdrawal.
- The VASP will send a randomly generated, small amount of cryptocurrency (usually between 50 cents and one euro) to the user's wallet address.
- The user must confirm the transfer within a certain time window (usually 90 minutes) by sending the cryptocurrency back to the VASP address.
- If the transfer is successful, the user is confirmed as the owner of the wallet address and can proceed with the withdrawal.
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•@stefan_21 Okay, so the Satoshi test gives me a lot of question marks 😄 I have to read up on it first to understand it. But maybe that's exactly the point. The EU procedure makes it easier for the majority to understand.
For me, point 1 was more about the fact that I want to send the BTC from the exchange to my wallet and would be worried about entering the wrong destination address at the exchange (e.g. transposed numbers or similar). It's already annoying with IBANs and wallet addresses are even more complex.
You're right in your answer to point 2 👍🏻 but there are certainly also fraudsters who would do it on the regulated exchanges.
But as is always the case, circumstances also affect honest users.
For me, point 1 was more about the fact that I want to send the BTC from the exchange to my wallet and would be worried about entering the wrong destination address at the exchange (e.g. transposed numbers or similar). It's already annoying with IBANs and wallet addresses are even more complex.
You're right in your answer to point 2 👍🏻 but there are certainly also fraudsters who would do it on the regulated exchanges.
But as is always the case, circumstances also affect honest users.
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•@TeeRiese that would at least be a small improvement. The Satoshi test that I know works differently - but maybe something has changed in the meantime, I'll have to read up on that when I get a chance :)
But then it would be even easier... the sender, who would not be the owner of the wallet, could simply send back the amount he receives. So you can't really prove that the wallet belongs to you in my eyes😅
But then it would be even easier... the sender, who would not be the owner of the wallet, could simply send back the amount he receives. So you can't really prove that the wallet belongs to you in my eyes😅
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