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Thread: WTF is up with Circle.com????

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    WTF is up with Circle.com????

    i just deposited money onto Circle and apparently you can't send money to a bitcoin address anymore? wtf is the point of this website existing then?


    I called them and they said they "quit dealing in bitcoin this morning" LOL wow what perfect timing that is... then they referred me to coinbase...


    does anyone here use coinbase? is it just as easy to use as Circle?

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    Platinum ftpjesus's Avatar
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    Quote Originally Posted by rollinx420 View Post
    i just deposited money onto Circle and apparently you can't send money to a bitcoin address anymore? wtf is the point of this website existing then?


    I called them and they said they "quit dealing in bitcoin this morning" LOL wow what perfect timing that is... then they referred me to coinbase...


    does anyone here use coinbase? is it just as easy to use as Circle?
    Coinbase is ok but what irritated me was out of the blue after verifying my acct suddenly they wanted me to do validation involving my DL again with a front and back via webcam and then webcam of me. Also my limits got dropped back down after I was already up. They are ok but not happy being back to $150 a week by card and $2000 by bank acct per week when I was higher with no explanation other then I think it's here we go again fucking Uncle Sam trying to control us again.

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    Platinum ftpjesus's Avatar
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    Quote Originally Posted by rollinx420 View Post
    i just deposited money onto Circle and apparently you can't send money to a bitcoin address anymore? wtf is the point of this website existing then?


    I called them and they said they "quit dealing in bitcoin this morning" LOL wow what perfect timing that is... then they referred me to coinbase...


    does anyone here use coinbase? is it just as easy to use as Circle?
    Second thing I agree what's the fucking point there are enough other peer to peer payment options including Paypal what's the fucking point to continue in business.

  4. #4
    Plutonium Sanlmar's Avatar
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    Article on Circle

    Remember IRS is sweeping Coinbase

    Why This Well-Funded Startup Just Gave Up on Bitcoin

    http://fortune.com/2016/12/07/circle-blockchain/

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    Serial Blogger BeerAndPoker's Avatar
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    FUCK YOU CIRCLE JERK CUNTS GIVING US ZERO NOTICE. TAKE YOUR NEW VENTURES AND SHOVE THEM UP YOUR ASSES.

    So what other exchanges are left that I can buy coin instantly and not wait a week?

    Also, what other exchanges can I send my blockchain cashouts to and get my money in a reasonable time frame without insane fees?

    I'd rather not use coinbase.

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    Owner Dan Druff's Avatar
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    Here's the company's statement on the matter: https://blog.circle.com/2016/12/06/s...tcoin-changes/

    It's too bad they dropped out. I preferred Circle over Coinbase.

    With Circle, you could call and reach a real human being in the US for customer service. After some effort, I was actually able to reach a high manager there regarding a really weird policy they had there which screwed me.

    (Basically, if you sent a lot of BTC there at once, they charged a commission, but if you sent a smaller amount a bunch of times, there was no commission -- which is the exact opposite of what one would expect!)

    This policy was not stated anywhere, except for being buried in the FAQ. Even in the FAQ, it wasn't made entirely clear.

    This screwed me out of like $230 over 2 transfers.

    After getting some initial pushback from lower level employees, I got a manager on the phone who fully agreed wth me that their site was misleading. He then asked a question I've never been asked before by a company:

    "If you were the one designing it, where would you put the notice about this?"

    I gave him an answer, and he agreed that my suggestion was better than the way they were currently doing it.

    He then sent me $200 as a settlement of the issue, which didn't make me 100% whole, but was close enough, especially given that indeed the commission thing was in the FAQ.

    I walked away with a good impression of Circle.

    Oh well.

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    Platinum FRANKRIZZO's Avatar
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    Quote Originally Posted by BeerAndPoker View Post
    FUCK YOU CIRCLE JERK CUNTS GIVING US ZERO NOTICE. TAKE YOUR NEW VENTURES AND SHOVE THEM UP YOUR ASSES.

    So what other exchanges are left that I can buy coin instantly and not wait a week?

    Also, what other exchanges can I send my blockchain cashouts to and get my money in a reasonable time frame without insane fees?

    I'd rather not use coinbase.
    That is shitty of circle. I use bitstamp with electrum as my wallet.

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    Serial Blogger BeerAndPoker's Avatar
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    Anyone ever use gemini.com? It seems a bit like circle just looking at it.

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    Owner Dan Druff's Avatar
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    Someone just PM'd me that they got shut down by Circle last week without notice.

    They were using it for BTC obtained through gambling, but always used a middleman wallet, yet claim they were figured out somehow anyway.

    The notice said they were banned without giving further explanation.

    I wonder if this move took place because the government was hassling Circle.

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    Gold gauchojake's Avatar
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    My comments below
     
    Many gamblers have been banned from Circle while using a wallet. I actually started to use 2 to disguise the transaction better. Not surprising that Circle got out of the business...I'm sure they saw a huge spike in sign ups and gambling related activity since idiots like Bovada basically created a fucking commercial on how to do it. There's other options out there...starting to think an Australian exchange might be the best way to go but you lose the liquidity of moving BTC to USD. The bitpay card is probably the best current option but seems like that will be shut down too.

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    Owner Dan Druff's Avatar
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    Also keep in mind that the IRS already served a summons on Coinbase (one week ago), for all records on transactions there by US customers from January 1, 2013 to December 31, 2015.

    The IRS had asked for this on November 18, Coinbase fought it, but a judge ruled on November 30 that the summons can proceed.

    This will allow the IRS to look at all money you moved to and from Coinbase from 2013-2015.

    Why not 2016? I'm guessing that the IRS isn't yet interested because you still have an opportunity to declare bitcoin income for 2016 (on your April 2017 tax return), so they are more looking to nail tax cheats than send anyone a notice regarding taxes soon to be due. Also, as 2016 is not yet over, one could have bitcoin income right now but have that income reduced to 0 by December 31.

    The 3-year period is also interesting because it encompasses the typical statute of limitations for IRS action on incorrect tax returns. Coinbase started in June 2012, but the IRS only wants 2013 through 2015, which are currently the actionable tax years according to that statute of limitations.

    Keep in mind that there is a longer statute of limitations involving tax fraud (typically six years), but that is often hard to prove, as non-taxpaying bitcoin users from 2012 can simply claim that they didn't realize bitcoin income was taxable, and possibly skate on a criminal charge.

    The IRS can do most with the tax years 2013-2015, so that's what they appear to want to know about. FYI, the statute of limitations for your 2013 tax return ends on April 15, 2017.

    My guess is that Joe Mid-Stakes Poker Player has little to worry about, unless he really put a beatdown on the games.

    They are probably looking for the bigger fish to fry -- the people who perhaps cycled several hundreds of thousands or millions of bitcoin through Coinbase via withdrawals, and yet never paid a dime of income tax on it.

    I suppose it is possible that the IRS will utilize an automated system to notify the smaller fish in the pond, demanding back taxes and penalties. This wouldn't be too hard to do.

    However, recall that Neteller handed over their customer data in a 2008 settlement with the US government, and nothing happened (to my knowledge) to any gamblers who didn't declare such income.

    It is worth noting that this is a bit different, though, as Neteller was a DOJ bust, and the DOJ and IRS don't necessarily scratch each other's backs. In fact, they rarely do unless something is in it for both of them. This situation isn't a bust, but rather an IRS summons, so that's a bit more scary.

    I am in the clear and not worried about this personally, but I can see how some gamblers are now getting nervous.

    Suffice to say that Coinbase will likely be forced to hand over 2016 data fairly soon, as well -- perhaps in the middle of 2017. But that's just a guess.

    http://www.coindesk.com/irs-summons-...oinbase-users/

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    Serial Blogger BeerAndPoker's Avatar
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    For sure 100% Circle saw what was up with Coinbase so they are avoiding the explosion and going for the pull out method.

    The thing is this don't clear Circle at all as they can easily get audited and summoned for their past actions.

    I agree that it's not about the little guy gambling a bit making a withdrawal here and there it's about the nailing the whales who could be trying to avoid paying some taxes,however, moving a bunch of 5 figure transactions to your bank account automatically sets you up as a target to be audited if they don't like your tax filing.

    Things like this can make the bitcoin prices go crazy but we haven't seen any movement yet.

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    Plutonium big dick's Avatar
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    Fuck you U.S. govt

     
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      SysOp: have to agree here

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    Gold SysOp's Avatar
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    what the fuck are bitcoins.

    all you dweebs laughed at micon, who is laughing now.

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    Owner Dan Druff's Avatar
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    Quote Originally Posted by SysOp View Post
    what the fuck are bitcoins.

    all you dweebs laughed at micon, who is laughing now.
    Micon really was a case of the boy who cried wolf.

    During my friendship with him (and even before that), I witnessed so many dumb "can't miss" ideas of his, that eventually I just tuned them all out as nonsense. Finally he was really onto something smart and I just laughed it off.

    If he didn't have that history, I probably would have taken the bitcoin thing more seriously and bought some when they were cheap. Not sure when I would have bailed out and sold them, but I know I would have made some money.

    Oh well.

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    Gold SysOp's Avatar
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    Quote Originally Posted by Dan Druff View Post
    Quote Originally Posted by SysOp View Post
    what the fuck are bitcoins.

    all you dweebs laughed at micon, who is laughing now.
    Micon really was a case of the boy who cried wolf.

    During my friendship with him (and even before that), I witnessed so many dumb "can't miss" ideas of his, that eventually I just tuned them all out as nonsense. Finally he was really onto something smart and I just laughed it off.

    If he didn't have that history, I probably would have taken the bitcoin thing more seriously and bought some when they were cheap. Not sure when I would have bailed out and sold them, but I know I would have made some money.

    Oh well.
    druff but fair.

  18. #18
    Silver Draymond's Avatar
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    Quote Originally Posted by Dan Druff View Post
    Quote Originally Posted by SysOp View Post
    what the fuck are bitcoins.

    all you dweebs laughed at micon, who is laughing now.
    Micon really was a case of the boy who cried wolf.

    During my friendship with him (and even before that), I witnessed so many dumb "can't miss" ideas of his, that eventually I just tuned them all out as nonsense. Finally he was really onto something smart and I just laughed it off.

    If he didn't have that history, I probably would have taken the bitcoin thing more seriously and bought some when they were cheap. Not sure when I would have bailed out and sold them, but I know I would have made some money.

    Oh well.
    Actually that is a poor analogy. The "boy that cries wolf" is suggesting he was trying to get you to do something to benefit him. You buying bitcoin had no impact to him whatsoever, whether you bought or not.

    I am curious though, what was Micon's final haul on Bitcoin? Did he really parlay it into millions? He was after all on the ground level. Never got the final scoop, not that anyone had any obligation to let me know. Curious is all.

  19. #19
    Plutonium sonatine's Avatar
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      Belly Buster: literally
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

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    Can somebody please explain why a "middleman wallet" is needed if I am going to set up a coinbase account?


    also what is a good middleman wallet to use?

    thanks in advance

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