The case for Bitcoin in Lebanon - Decrypt

Bitcoin Trading As High As $15K In Lebanon; 2020 The New 2017? -

Bitcoin Trading As High As $15K In Lebanon; 2020 The New 2017? - submitted by Kiguru to btc [link] [comments]

No, Bitcoin Isn’t Trading for $15K in Lebanon After Currency Collapse

No, Bitcoin Isn’t Trading for $15K in Lebanon After Currency Collapse submitted by Ranzware to BitNewsLive [link] [comments]

No, Bitcoin Isn’t Trading for $15K in Lebanon After Currency Collapse

No, Bitcoin Isn’t Trading for $15K in Lebanon After Currency Collapse submitted by a36 to AllThingsCrypto [link] [comments]

Bitcoin Price (€6,995.94) - April 24, 2020 || Top News: "... Bitcoin Trades at $15k in Lebanon Amidst Economic Turmoil, Showing Its Real Potential ..."

Bitcoin Price (€6,995.94) - April 24, 2020 || Top News: submitted by bitireland to bitcoin_ireland [link] [comments]

Forex Trading in Kenya.

Someone posted on here a few days ago asking about forex and forex trading in Kenya, I have gone through the responses and clearly, most people don’t have an idea. It is 3am in the morning and am in a good mood so let me make this post. This will be a comprehensive and lengthy post so grab a pen and paper and sit down. We’ll be here a while.
FIRST OF ALL, who am I..?
I am a forex trader, in Nairobi, Kenya..i have been actively involved in forex since I found out about it in Feb 2016 when I somehow ended up in a wealth creation seminar (lol) in pride inn Westlands, the one close to Mpaka Rd. Luckily for me, it was not one of those AIM global meetings or I’d be on Facebook selling God knows what those guys sell. I did not take it seriously till August of the same year and I have been active ever since.
I don’t teach, mentor or sell a course or signals, I trade my own money. I am also posting from a throwaway account because I don’t want KRA on my ass.
What the fuck is forex and forex trading.
In simple plain English, forex is like the stock market but for currencies. Stock Market = Shares, forex = currencies. If you want more in-depth explanation, google is your friend.
These currencies are pegged on specific countries, united states- dollar, UK- pound, euro zone- euro, Switzerland- Swiss franc, Kenya- Kenya shilling.. you get the point. Now, there are specific events and happenings between these economies that affect the movement and values of the currencies, driving their value (purchasing power up and down). Forex trading exploits these movements to make money. When the value is going up, we buy and vice versa (down –sell)
Is forex trading illegal in Kenya? Is it a scam?
Illegal, no. scam, no. All the banks in the world do it (KCB made about 4 billion from trading forex in 2019)
Have there been scams involving forex in Kenya?
Yes. Here is one that happened recently. This one is the most infamous one yet. Best believe that this is not the end of these type of scams because the stupidity, greed and gullibility of human beings is unfathomable.
However, by the end of this post, I hope you won’t fall for such silliness.
What next how do I make it work..?
Am glad you asked. Generally, there are two ways to go about it. One, you teach yourself. This is the equivalent of stealing our dad’s car and hoping that the pedal you hit is the brake and not the accelerator. It is the route I took, it is the most rewarding and a huge ego boost when you finally make it on your own. Typically, this involves scouring the internet for hours upon hours going down rabbit holes, thinking you have made it telling all your friends how you will be a millionaire then losing all your money. Some people do not have the stomach for that.
The second route is more practical, structured and smarter.
First Learn the basics. There is a free online forex course at www.babypips.com/learn/forex this is merely an introductory course. Basically it is learning the parts of a car before they let you inside the car.
Second, start building your strategy. By the time you are done with the babypips, you will have a feel of what the forex market is, what interests you, etc. Tip..Babypips has a lot of garbage. It is good for introductory purposes but not good for much else, pick whatever stick to you or jumps at you the first time. Nonsense like indicators should be ignored.
The next step is now the most important. Developing the skill and building your strategy. As a beginner, you want to exhaust your naivety before jumping into the more advanced stuff. Eg can you identify a trend, what is a pair, what is position sizing, what is metatrader 4 and how to operate it, what news is good for a currency, when can I trade, what are the different trading sessions, what is technical analysis, what is market sentiment, what are bullish conditions what is emotion management, how does my psychology affect my trading (more on this later) an I a swing, scalper or day trader etc
Mentors and forex courses.. you have probably seen people advertising how they can teach and mentor you on how to trade forex and charging so much money for it. Somehow it seems that these people are focused on the teaching than the trading. Weird, right..? Truth is trading is hard, teaching not quite. A common saying in the industry is “Those who can’t trade, teach” you want to avoid all these gurus on Facebook and Instagram, some are legit but most are not. Sifting the wheat from the chaff is hard but I did that for you. The info is available online on YouTube, telegram channels etc. am not saying not to spend money on a course, if you find a mentor whose style resonates with you and the course is reasonably priced, please, go ahead and buy..it will cut your learning curve in half. People are different. What worked for me might not work for you.
Here are some nice YouTube channels to watch. These guys are legit..
  1. Sam sieden
  2. Cuebanks
  3. TheCoinFx
  4. The trading channel
  5. Astro
  6. Forex family
  7. Wicksdontlie
Advanced stuff
  1. ICT
After a short period of time, you will be able to sniff out bs teachers with relative ease. You will also discover some of your own and expand the list. Two tips, start with the oldest videos first and whichever of these resonates with you, stick with till the wheels fall off.
How long will it take until things start making sense
Give yourself time to grow and learn. This is all new to you and you are allowed to make mistakes, to fail and discover yourself. Realistically, depending on the effort you put in, you will not start seeing results until after 6 months. Could take longeshorter so there is no guarantee.
Social media, Mentality, Psychology and Books
Online, forex trading might not have the best reputation online because it takes hard work and scammers and gurus give it a bad name. However, try to not get sucked into the Instagram trader lifestyle as it is nowhere close to what the reality is. You will not make millions tomorrow or the day after, you might never even make it in this market. But that is the reality of life. Nothing is promised, nothing is guaranteed.
Your mentality, beliefs and ego will be challenged in this market. You will learn things that will make you blood boil, you will ask yourself daily, how is this possible, why don’t they teach this in school..bla bla bla..it will be hard but growth is painful, if it wasn’t we’d all be billionaires. Take a break, take a walk, drink a glass of whatever you like or roll one..detox. Chill with your girl (or man) Gradually you will develop mental toughness that will set you up for life. Personally, I sorta ditched religion and picked up stoicism. Whatever works for you.
Psychology, this is unfortunately one of the most neglected aspects of your personal development in this journey. Do you believe in yourself? Can you stand by your convictions when everyone is against you? Can you get up every day uncertain of the future? There will be moments where you will question yourself, am I even doing the right thing? the right way? It is normal and essential for your growth. People who played competitive sports have a natural advantage here. Remember the game is first won in your head then on the pitch.
Books: ironically, books that helped me the most were the mindset books, Think and grow rich, trading for a living, 4 hour work week, the monk who sold his Ferrari..just google mindset and psychology books, most trading books are garbage. Watch and listen to people who have made it in the investing business. Ray Dalio, warren, Bill Ackman and Carl Icahn.
This is turning out to be lengthier than I anticipated so I’ll try to be brief for the remaining parts.
Brokers
You will need to open up an account with a broker. Get a broker who is regulated. Australian ones (IC Market and Pepperstone) are both legit, reliable and regulated. Do your research. I’d avoid local ones because I’ve heard stories of wide spreads and liquidity problems. International brokers have never failed me. There are plenty brokers, there is no one size fits all recommendation. If it ain’t broke..don’t fix it.
Money transfer.
All brokers accept wire transfers, you might need to call your bank to authorize that, avoid Equity bank. Stanchart and Stanbic are alright. Large withdrawals $10k+ you will have to call them prior. Get Skrill and Neteller if you don’t like banks like me, set up a Bitcoin wallet for faster withdrawals, (Payoneer and Paypal are accepted by some brokers, just check with them.)
How much money can I make..?
I hate this question because people have perceived ceilings of income in their minds, eg 1 million ksh is too much to make per month or 10,000ksh is too little. Instead, work backwards. What % return did I make this month/ on this trade. Safaricom made 19.5% last year, if you make 20% you have outperformed them. If you reach of consistency where you can make x% per month on whatever money you have, then there are no limits to how much you can make.
How much money do I need to start with..?
Zero. You have all the resources above, go forth. There are brokers who provide free bonuses and withdraw-able profits. However, to make a fulltime income you will need some serious cash. Generally, 50,000 kes. You can start lower or higher but if you need say 20k to live comfortably and that is a 10% return per month, then you can do the math on how big your account should be. Of course things like compound interest come into play but that is dependent on your skill level. I have seen people do spectacular things with very little funds.
Taxes..?
Talk to a lawyer or an accountant. I am neither.
Family? Friends?
Unfortunately, people will not understand why you spend hundreds of hours watching strangers on the internet so it is best to keep it from them. Eventually you will make it work and they will come to your corner talking about how they always knew you’d make it.
The journey will be lonely, make some trading buddies along the way. You’d be surprised at how easy it is when people are united by their circumstances (and stupidity) I have guys who are my bros from South Africa and Lebanon who I have never met but we came up together and are now homies. Join forums, ask questions and grow. That is the only way to learn. Ideally, a group of 5-10 friends committed to learning and growth is the best model. Pushing each other to grow and discovering together.
Forex is real and you can do amazing things with it. It is not a get rich quick scheme. If you want a quick guaranteed income, get a job.
And now it is 5am, fuck.
This is oversimplified and leaves out many many aspects.
Happy to answer any questions.
submitted by ChaliFlaniwaNairobi to Kenya [link] [comments]

I am the creator of BitcoinDuLiban.org. I am on a mission to educate Lebanese about the importance and usefulness of Bitcoins in their lives. AMA

What is Bitcoin?

Bitcoin (₿) (ticker BTC)is an open source cryptocurrency. It is a decentralized cryptographic currency without a central bank or single administrator in control that can be sent from user to user on the peer-to-peer bitcoin network without the need for 3rd person in between like bank, or payment processor or institution all transaction processing and verification is carried out collectively by the network.
Find out more at http://www.bitcoinduliban.org/

Why Bitcoin is the future?

Bitcoin emerged in 2009 as more economies across the world started losing trust in the current banking model. Institutions that have been around longer than ourselves have changed very little throughout our lifetime. Not only does the lack of trust, and stagnant change of banks allow Bitcoin to thrive, but also the possibility of eliminating inflation. Bitcoin saw the opportunity to take the power out of the institutions and provide a better service, and the people responded. Bitcoin operates universally, meaning for the first time, there is a possibility of a global currency. With truly international currency possibilities for global economic growth, social equality, self-sovereignty is endless.

Why Bitcoin and not others?

It is a very good question, there at the moment of writing over 2000 projects and “coins” that emerged after Bitcoin. Many of them claim to be faster, better and more flexible than Bitcoin however very few have withstood the test of time or delivered their proposed product. The basic fundamentals of Bitcoin’s principle monetary policy are unprecedented, and by now, it is impossible to replicate its level of decentralization or network security, which is powered by a computer network as powerful as almost 12 trillion Intel Core i7 processors. Bitcoin also has the largest social / community strength. I would HIGHLY advise against investing or getting dragged into any project that claims superiority, I have single rule : if it says it's better than Bitcoin then its what we call “scam-coin” you will only get pulled in and lose your bitcoin/usd value causing a lot of pain and sadness . Sit down, read, learn and be patient, you will not miss out on anything over night and if something is rising in price quickly most likely it will crash as fast.

Does bitcoin have an applicable use in daily life or is it only for holding for future gains?

Bitcoin has taken over the cryptocurrency market. It’s the largest and most well-known digital currency today. Many large companies are accepting Bitcoin as a legitimate source of funds, you can use your Bitcoin at but not limited to : KFC, Burger King, Microsoft, AT&T , Expedia, Subway, Twitch, Virgin Galactic and many more just look it up. You can look up merc and services at https://spendabit.co/ So if you are living abroad, you can use your bitcoin just like any other known currency in addition there are Debit cards in collaboration with VISA network offers that are backed by Bitcoin making you able to pay with it anywhere in the world just with a swipe or tap.

As Lebanese in Lebanon, how can I buy or sell bitcoin ?

In Lebanon unfortunately we can not use our banking system to purchase bitcoin, there was a time where rain.bh an UAE based exchange was accepting Lebanese Cards, till it was stopped but give it a try we weren’t able to confirm all cards.
Therefore most common way to buy bitcoin in lebanon is using P2P which is person to person exchange, this can be through an international website such as localbitcoins.com or hodlhodl.com , all you gotta do is find a sell offer initiate transaction with seller , send him his payment using WesterUnion or Moneygram and once the seller receives payment your bitcoins will be released but make sure you use escrow service which ensures safety of your transaction therefore bitcoins you are buying are frozen for the seller and he can not retrieve them unless you fail to pay or run out of time window to pay. Another p2p way is through local bitcoin communities , there are plenty of traders willing to exchange with you however always ask for the reputation of the seller inside a group and never respond to private messages unless it is a confirmed reliable trader just to avoid losing and being scammed. Feel free to find out more about how to buy in Lebanon at http://www.bitcoinduliban.org/

If I have a bank account outside Lebanon, can I use bitcoin to transfer money from Lebanon to my bank account outside?

It is possible to transfer Bitcoin to an international account in the USA or EU for example, you would need to use recognized exchanges such as coinbase.com kraken.com and many others. It would be as simple as sending BTC to your coinbase account, converting to USD and withdrawing it to your account. However you must take few precautions, if you are sending a significant amount of BTC and converting it to USD you will need some kind of proof that these funds are yours otherwise you might get investigated for money laundering. So is it convenient to send ? I do not think so, if you managed to get what we call now in Lebanon “ Fresh USD” it would be much less of a hassle to simply initiate an international transaction.

Why would I want to send Bitcoin to my family or friends in Lebanon ?

This is where I believe BTC can shine for us, you can use exchanges as coinbase,kraken or any prefered place to purchase some bitcoin that can be transferred to your family wallet within minutes. Your family or friends can exchange bitcoin or part that is needed with local traders to LBP at desired exchange rate therefore you are not forced to exchange at rates given by WesterUnion, after which they will be able to do their daily purchases and mitigate inflation rates to some extent. You can send as little as $1 and the transaction costs less than $1 for any amount.

Why is the Bitcoin price so volatile ?

Indeed it can be, sudden swings of 20% both ways are considered normal if you look at daily data, however bitcoin since 2009 had only one trend which is upward, 80% chance is if you bought BTC at any moment in past 2 years is that you are on break even or positive not loss. Feel free to try this exercise by going to https://dcabtc.com/

Should I invest?

NO. Now since we got the short version of this, let me elaborate. By the end of the day it is a new class of an asset, the price is still in the discovery phase and it could cause a lot of pain and sleepless nights if you invest more than you can chew to possibly lose. No one can advice you what to do with your money and how to position them, however i highly encourage to read, educate yourself on money before investing in BTC a good start would be https://bitcoinduliban.org. Please ask more knowledgeable bitcoin users and double check sources , once you feel confident enough that you understand this monetary system you can try dipping your toes with small amounts and build your position from there. Just stay away from quick gains schemes such as “online mining” “cloud mining” and anything that offers 100% returns in a very short time, if it's too good to be true then it's a scam.

Scams, BE AWARE.

Due to our difficult situation we are being targeted by constant advertisement of potential new solutions using “newly developed cryptocurrencies“ , unfortunately such new technology does not exist and they are trying to take advantage of us by promising fake solutions.
Even Bitcoin can not provide you with a solution to your hard worked money being inaccessible in any Lebanese bank.
Here are few typical scam msgs:
submitted by marceldy to lebanon [link] [comments]

Lebanons currency crisis paves the way to a new future - Bitcoin

TLDR; in 1997 the Lebanese pound was pegged to the US dollar at 1507:1. The issue is that there is a black market that actually has the pound trading at closer to 15007:1 (10x). The central money exchanges are refusing to give dollars and only pound as they know the currency is not actually worth the pegged USD. The bitcoin solution is quite clear here!

EDIT* changed Lira to pound to reflect the actual currency....
https://www.forbes.com/sites/tatianakoffman/2020/07/09/lebanons-currency-crisis-paves-the-way-to-a-new-future/#554c410a6a17
submitted by amygdalad to Bitcoin [link] [comments]

Somebody enlighten me.. Americans- why do you look at BTC as anything other than a long forgone investment opportunity?

I remember 2009. I remember paying $1 for 1000 btc. I spent it on some shitty ecstacy tablets on the silk road and didn't think about it again for a long time. Hell there were probably even a couple btc left in the wallet when I abandoned it. The exchange I used was MTGOX so it doesn't matter.. anyways..
Now a days, bitcoin already popped. It's been more or less a lateral moving vehicle since 2017. The ceiling is probably around 20k (no?). you guys know this..
I read the posts on this reddit and a lot of it is people touting btc as the future of universal currency or whatever. I get that for countries with failing economies like Lebanon etc. But the entire world looks to USD to back it's currency... what's another countries pound/peso/whatever worth? Doesn't matter- how much is it worth in USD? You know what everyone did who kept their bitcoin wallets in order from 2009? They withdrew it to USD.

So... what's the point? Aside from trying to make small gains day trading, and aside from the tin foil hatters who are so damned sure the american economy is on the verge of collapse... what's the point?
submitted by t4keheart to Bitcoin [link] [comments]

[Guide] How to send money from abroad to Lebanon?

This questions is being asked a lot so we might as well post all the possible options as off July 1, 2020.

-------------- International Bank Transfer in Fresh USD Account --------------

1. Open a fresh money account in your bank
Blom Bank: https://www.blomretail.com/retail/bank-accounts-lebanon/fresh-money-accounts
Bank Audi: https://www.bankaudi.com.lb/externalaccount
Byblos Bank: https://www.byblosbank.com/personal/accounts/current/
Fresh Money Account or External Account is a bank account that has real USD, unlike old/regular bank accounts which have lollars in them. (Lollars are Lebanese Dollars aka Dollars stuck in Lebanese banks, aka Dollars in bank accounts before October 2019)
In order to receive an international incoming bank transfer, make sure you go to your bank before the transfer is done and open an external or fresh money bank account. Do NOT transfer into your old USD account.
2. Tell the bank you're expecting to receive an international incoming bank transfer and want to withdraw it in USD
Some banks are giving out the entire incoming bank transfer in USD. Other banks are giving 80% of the incoming transfer in USD while giving the rest in LBP. Make sure you talk with your bank and negotiate the entire thing before any transfer is done
3. Transfer and withdraw the money in USD
Transfer can take from 4-7 business days and costs will be incurred on the sender and the receiver

-------------- Bitcoin --------------

Check this quick video LINK
1. Use your foreign (not Lebanese) credit/debit card to purchase BTC (Bitcoin)
You can purchase BTC (Bitcoin) from
When you purchase Bitcoin through any of the mentioned websites, you will be able to send Bitcoins to a wallet of your choice or keep them on the exchange.
2. The person who's going to receive the money in Lebanon opens a bitcoin wallet
The person who's going to receive the money in Lebanon opens a bitcoin wallet that can be done in less than 2 minutes using any of the free wallets such as (BlueWallet,Coinomi, Exodus)
This can be done for free on a laptop or mobile phone.
3. The sender sends the bitcoin from his wallet to the receiver's wallet
4. The transfer could take up to 10-20 minutes and should not take more than $1 per transaction.
5. Once the receiver (Person in Lebanon) receives the bitcoin, he can list them for sale in exchange for USD or black market rate LBP
However you can skip this step by arranging a trade by yourself so instead of sending it to your family or friends you can send it to the person who is willing to buy it from you and they will deliver LBP as per your arrangement or through OMT.
6. Bitcoin can be sold on
https://localbitcoins.com/
Live market places on Telegram: https://bitcoinduliban.org/communities
7. If someone needs to immediately sell his bitcoin, he can offer a lower price (lower than the exchange rate) and a buyer will most probably immediately accept the sale
8. Selling bitcoin in exchange for USD, requires the buyer and the seller to meet physically
9. Selling bitcoin in exchange for LBP (black market rate), does not require the buyer and the seller to meet, the transaction can be completed by using OMT.
For more information about how bitcoin works please check the AMA that was done here in our subreddit, and check https://bitcoinduliban.org/

-------------- Western Union --------------

1. Transferring money from abroad through Western Union is possible but not advisable because of the huge loss that will be incurred on the receiver
2. Check today's rate here: https://www.omt.com.lb/en
3. For example, today for every 1 USD that Western Union/OMT receives from abroad, they will give out 3,800 LBP. At the same time the black market rate today is $1 = 8,500 LBP. Check the current black market rate here
On August 6, 2020, BDL released a new announcement requesting all money transfer companies to give out the money in USD. The announcement can be found here.
Be careful when using these services as high fees might be incurred.
submitted by ThePerito to lebanon [link] [comments]

Is there any way to buy bitcoins online?

While the dollars is still at 1500 rate on online transaction with a 100$ limits, I was thinking I could probably buy some bitcoins with them.
submitted by Walkerstain to lebanon [link] [comments]

What will Lebanon look like a hundred years from now?

Let’s say your vision of Lebanon is fulfilled. Keyword here is your vision. Not the pessimistic outcome we all see coming. Whether it’s an independent Lebanon, a strong Iranian alliance, a strong American one, or China’s Mediterranean vacation spot. What will lebanon look like?
We spend so much time arguing over the past and present. I think it would be refreshing to spend more time arguing about the future.
Things you could touch on:
Discuss. Or fight. Same thing in Lebanon anyway.
Edit: Some of the most entertaining responses here were less about vision/ desired outcome and more about forecasting our doom. So if it’s hard to separate the two that’s fine.
submitted by boomchakalakawoowoo to lebanon [link] [comments]

A New Gateway: The End of Central Banking?

Recently, hyperinflation has ravaged Lebanon and people are turning to black markets to survive. Many countries are printing their currency into oblivion. The US dollar has gone down in value in the past month. It seems that a currency collapse is on its way across the world.
However, assets like cryptocurrency have been climbing in value recently. Cryptocurrencies in general have been climbing in value for the past 12 years. Many countries have tried to crack down, some like China, Russia, Columbia, etc have even banned their usage and trading. Ironically, those countries have the highest trade volumes of cryptocurrencies. India for example has lifted its ban because laws against cryptocurrencies are unenforceable.
Honestly, the catalyst for this Fourth Turning was the 2008 financial crash. Funny enough, Bitcoin was created that same year. And the dollar's collapse was inevitable when Nixon took us off the gold standard. This has been a long time coming.
What I see happening is the abandonment of the fiat system. When the currency crisis does happen, people will probably move to using cryptocurrency. A common myth is that cryptocurrencies are unstable. Like all commodities, cryptocurrencies are affected by supply and demand. The more people use them, the more stable it becomes.
Of course governments will try and sustain the old world fiat system. They'll probably go to war with each other to try and stimulate demand. Though it probably won't work since its tax revenues would be declining due to how cryptocurrencies are unaffected by government policies like regulations or tax laws.
The government will try and crackdown on anyone using cryptocurrencies, as the coins are a threat to it. People will begin to see governments as a threat to their existence and will likely revolt. A regeneracy will happen to combat government tyranny. Hopefully, the resolution ends with the death of central banking.
The next 1st Turning will happen roughly around 2030. So we essentially have a decade for this possible scenario to play out.
If you want more information, read a book called The Sovereign Individual. It measures its cycles by 500 years. We're in the Modern Era, which started in the early 1500s, which fits the Late Medieval Saeculum. The book predicted something like this happening around the 2020s.
Hope you guys share my POV.
submitted by Sagetyrant to TheFourthTurning [link] [comments]

History doesn't repeat but it sure does rhyme. What would this recession look like if it followed a similar time line to 2008?

2008 Global Financial Crisis
Feb 2007: The first tremors start in the US subprime mortgage market in the US.
September 2007: The first bank runs start with Northern Rock in the UK.
March 2008: The first banks start collapsing with Bear Stearns.
September 2008: Lehman Brothers files for bankruptcy.
October 2008: Iceland's financial sector collapses.
December 2008: Countries across the world start announcing they are in recession.
May 2010: European debt crisis kicks off.
It took 13 months to go from feeling the first tremors until the first banks started to collapse. Below is what todays crisis would look like laid out on a similar time line.
2020 Global Debt Crisis:
September 2019: The first tremors start with a broken repo market in the US.
Feb 2020: Covid19 speeds everything up throwing the world into recession.
May 2020: The first of many sovereign debt crises unfold as Lebanon falls causing citizens to burn down their own central bank.
October 2020: The first banks start collapsing.
April 2021: The first banks start filing for bankruptcy.
May 2021: Entire countries financial sectors start collapsing.
July 2021: Countries across the world start falling into sovereign debt crises as their bond markets collapse and inflation spikes.
December 2022: A global debt crisis has engulfed the world leading to worthless government bonds, 20% interest rates and runaway inflation everywhere.
The IMF is trying to push its SDRs as the next global reserve currency while China is trying to get the world to adopt its new Gold backed Yuan. People have stopped measuring Gold and Bitcoin in fiat and now with fiat having hyperinflated the only currency pair on earth that matters is the Gold/Bitcoin pair. One ounce of gold can buy a new car and one bitcoin can buy 25 ounces of gold.
The XBT/XAU rate is 25. This is now the only currency pair traded and reported on earth.
submitted by slvbtc to Bitcoin [link] [comments]

Business proposition to someone in Beirut

Suitable for someone who has nothing to do, small earnings in the beginning. I am talking about trading with the help of this site: https://local.bitcoin.com/offers/Lebanon
As you see, no traders for the time being.
The activity will be trading locally for small amounts, meeting interested parties to hand over paper cash in either direction.
You will earn on the spread, which can be for example 5% in each trade.
See also https://www.reddit.com/btc/comments/f98xb7/let_me_tell_you_how_the_modern_trading_site/
Lebanon is not a hotspot for cryptomoney, even when more needed than many other places. For example, Brisbane Australia has over 100 vendors accepting BCH, and Slovenia with 700 vendors in the country, 300 just in the capital. That is vendors, general users must be many more.
If you want to try, I can help with the details, advice, and a small start amount.
submitted by ErdoganTalk to lebanon [link] [comments]

Bitcoin trading

So I'm from Lebanon and bitcoin is banned here.
Have anyone tried trading bitcoin with a stranger?
If yes, then tell me how tf did you trust them not to screw you up and steal your money.
Thank you.
submitted by anonymous01011 to btc [link] [comments]

Nassim Nicholas Taleb advisories on hedging against a fiat system implosion

Universa Investments, advised by Nassim Nicholas Taleb, recently made a fortune shorting the financial markets and their long-standing penchant for underestimating fat-tail risk. Universa Investments is owned by Mark Spitznagel who is notorious for declaring the following:
I spend all my time thinking about looming disaster.
These profits are still made in dollars. But then again, what if the fiat currencies themselves end up imploding? In fact, Nassim has already advised on the matter in his December 2019 interview with the indiatimes.com:
I only have an idea of what to avoid. Avoid owning treasury bonds, avoid owning some classes of assets; at this point I would avoid stocks simply because they could collapse any time.
Hence, Nassim resolutely advocates against owning any assets in the financial markets, because these markets are going to fall apart. In fact, we already knew about this advice. We also knew that Universe Investment was actively shorting the financial markets.
In the same interview, Nassim advises the following about fiat currencies. When a country (in this example, Lebanon) introduces currency controls, Taleb strongly advocates abandoning the fiat banking system and to use cryptocurrencies instead:
I am realising Lebanon is in a situation where there is an implied currency control but the government cannot control bitcoin which is a good thing because people have no trust and the ability of the central bank which really causes the ponzi style collapse and the bitcoin does not have that.
Gold has its problems. Gold may not be entirely suitable for international trade and associated payments. Nonetheless, Taleb still wants to own gold as a store of value:
Do I like gold? No. But I own that because I am confused and it feels good. If I do not have enough gold, I do not sleep well. If I have enough gold, even if prices collapse, I sleep well. So, may be may body is telling me something about how the environment is moving away from central bank domination.
In a very recent tweet response (16 April 2020) to the deteriorating financial situation in Lebanon, Taleb strongly insists:
Use cryptocurrencies!
Of course, I remain on the outlook for new comments and advisories by Nassim Taleb on a possible fiat system implosion. I am quite confident that the above is not the last thing he will be saying on the matter.
submitted by mimblezimble to nassimtaleb [link] [comments]

EMJAC tire recycling project chooses ExMarkets as IEO partner

Constant worries regarding climate change are forcing society to make a harder look at what human beings are doing to the Earth as a species. In the regions with higher levels of economic and social developments winds of sustainable living and environmental care are taking the lead.
Responsible thinking is also opening a niche for startups and enterprises. There are real business cases out there that can help us make our surroundings cleaner, safer and more pleasant.
Today, we are glad to announce that one such project is going to appear on ExMarkets for an Initial Exchange Offering and exchange listing afterward. Guys, meet EMJAC — the World’s 1st green energy DLT project. EMJAC is building a digital architecture to help the word to efficiently convert waste into renewable energy.
EMJAC’s digital platform will be based on latest blockchain technology to manage, account and eventually reduce illegal tire dumping through blockchain based traceability solution. The long-term result will generate clean energy, reduce tire waste and hazards associated with it.
EMJAC IEO will run for the full month of August starting on the 1st at 12 AM GMT and ending on the 31st. “We want the world population to join EMJAC to recycle and empower Blockchain towards a sustainable future” — commented Mr. Meng Kwan CEO, founder and CEO of EMJAC.
Project supporters and ExMarkets users will be able to acquire EMJAC’s native tokens — EMJ in exchange for Bitcoin, Ethereum, Euros or USDC stable coin. Token price will start at $0.08 and will gradually increase approaching the end of the sale.
Naturally, it makes more economic sense to contribute early and buy at the lowest price possible. Should you still need an account at ExMarkets, visit https://exmarkets.com/register and sign up immediately — we promise it won’t take longer than 3 minutes of your time.
EMJAC project from up close The common way how fuel is generated is through the combustion process of raw materials. A similar process is employed when manufacturing tires. The good news is that Meng Kwan and Chu Wong discovered a decentralized system that facilitates the impact of favorable dimensions for the recycling and energy waste industries. According to the EMJAC team, the architecture of the platform will be fueled by EMJ token which will grant users access and rights to monitor the movement of the whole waste recycling process, buy, sell and exchange generated energy into EMJAC native tokens.
The process is delightfully called TRU — Advanced ContinuousThermal Recovery Unit. TRU is a sustainable disintegration procedure that actually recycles 100% of waste tires without spewing any of the harmful gases or emissions and helps to directly reduce the carbon footprint. TRU is the ultimate solution to the global redundant tire recycling problem.
It is constructed to achieve multiple objectives, all oriented towards increasing the efficiency of waste management and recycling sector, especially the used tire section. How does it work?
TRU technology can be called the reverse engineering of tire waste. The anti-manufacturing removes sulfur from tires to recover raw material and transforms into its components: Euro 2 synthetic diesel, black carbon, steel wire, and synthetic gas.
Various sources calculate that there are over 2 billion tires that are categorized as waste per year and is projected to keep growing and reach 2.3 billion as early as 2023. What’s even more surprising is the fact, that there are capabilities to recycle only 30% of them. It suggests that there’s a true need in society to do so and validates EMJAC’s business case. Especially when they are achieving this in a completely green and sustainable manner.
What is also not the least bit less important is that EMJAC has been in close contact with the Malaysian Department of Environment and other agencies besides having established partners in other regions of the world, namely Asia, Europe, and the United States.
To find out more about EMJAC’s work, recycling centers, and the EMJ coin, view the official explanatory video or skim through the whitepaper.
Tokensale Fundamentals
Ticker: EMJ;
Price: $0.08 in Round I | $0.11 in Round II | $0.18 in Round III;
Bonus: No;
KYC: Yes;
Restricted countries: USA, AFGHANISTAN, BURUNDI, CANADA, MYANMAR, COTE D’IVOIRE, CUBA, DEMOCRATIC REPUBLIC OF CONGO, DEMOCRATIC PEOPLES’ REPUBLIC OF KOREA, NEW ZEALAND, ICELAND, IRAN, IRAQ, LIBERIA, LEBANON, LIBYA, RWANDA, SIERRA LEONE, SINGAPORE, SOMALIA, SUDAN, SYRIA, THAILAND, TANZANIA, UGANDA, ZAIRE, ZIMBABWE AND COUNTRIES OR TERRITORIES OR INDIVIDUALS UNDER THE SANCTIONS OF THE UNITED NATIONS OR SINGAPORE OR COUNTRIES WHERE CRYPTOCURRENCY IS PROHIBITED
Token total supply: 500,000,000 EMJ;
Available for sale: 350,000,000 EMJ;
Softcap/Hardcap: $8,000,000 USD/ $35,000,000;
Accepted currencies: BTC, ETH, EUR, USDC;
Blockchain: Ethereum (ERC20).
“EMJAC just has a great case if you take the time to think about it. There are billions of tires out there just lying around that everyone wants to get rid of but can’t burn them without causing significant pollution. The statistics indicate that the amount is only going to increase in the foreseeable future. EMJAC’s TRU process does just that and decomposes waste into raw materials that can be monetized. It’s a benefit to all” — commented D. Sharkey, the head of sales at ExMarkets and CoinStruction.
Anyone with some common sense and a pinch of awareness for the environment shouldn’t find it hard to understand the position EMJAC is in. It looks like a premium deal and you should definitely get in on it! We’re delighted that ExMarkets IEO LaunchPad will host the IEO sale. Take your chance to sign up now and get ready for the action!
See you when the IEO starts! Don’t miss it and stay tuned by joining ExMarkets Telegram channel!

ABOUT THE AUTHOR

ExMarkets is a digital asset exchange platform powered by the state-of-the-art trading engine developed in-house. On the exchange, ExMarkets users can trade the most popular cryptocurrencies as well as gain the chance to participate in the token sales of the most promising blockchain and crypto projects through ExMarkets Initial Exchange Offering (IEO) LaunchPad.
Fairly recently ExMarkets was granted 2 operational licenses for crypto-fiat gateway and custodian service provision by the Estonian regulator making it one of a few certified players in the market. It takes only a few minutes to set up your account and users are allowed to make deposits in Bitcoin, Ethereum, other supported cryptocurrencies, tokens, and most importantly Euros.
To top it all off, ExMarkets is a part of the CoinStruction liquidity framework which is aggregating order-books from the most well-known cryptocurrency exchanges guaranteeing 24/7 crypto liquidity — a feature which can seldom be seen in the current market.
All IT solutions and technology of ExMarkets and CoinStruction’s services are developed in-house guaranteeing that all security threats and third-party associated risks are kept at minimum levels throughout all stages of product deployment.
Trade. Master. Profit. ExMarkets.
submitted by hackernoon007 to EMJACOfficial [link] [comments]

To everyone proposing aid projects using e-money/bitcoin

Projects concerning e-Money/Bitcoin/Virtual Wallets

This has been popping up a lot lately between reddit and other social media, and there's something people need to be aware about our monetary regulations making this idea illegal or at the very least not legally feasible in Lebanon:
Currently, there is no legal recognition of e-money in Lebanon, and no evidence of e-money issuers operating legally. In 2000, the Banque Du Liban issued Circular 69 which covers all operations and activities conducted through electronic means by both banks and non-banking financial institutions. The circular prohibits the issuance and use of e-money by any party.
There is also Basic Decision 7548, which allows for any financial activity to be performed electronically, but it also places specific restrictions on the use of mobile devices as a transaction/e-money channel. It is specifically stated in Article 3, that banking operations conducted through mobile phones are restricted to operation betweens the bank and it's customers, and again explicitly stating e-Money issuance is strictly forbidden.

I'm not trying to poop on anyone's parade. I just want people to be absolutely aware of how the laws work here in order to work around them, or go down to the streets and call for the circulars to be altered or to call for progressive financial inclusion laws.
The positive side here is that a lot of the non-banking financial sector is highly under-regulated or out-dated, and any innovation that can work around being categorized a virtual/electronic wallet should be able to get away with it scotfree, at least until regulations catch up to it and address it (which is what happened to P2P and crowd-funding).
I think the keyword here is "electronic" - if you can avoid having what you're doing be categorised as electronic/digital currency, you're in the clear. What you do need to figure out is how to get the money into the country through legal means that allow for the money to actually be used - it would seem to be that using a local bank is almost inevitable.
It's awesome people want to help out in anyway they can, and it's much needed help, but we also need to understand how our financial regulatory frameworks function, and what they cover.

I don't think I can answer most questions you might have, I can try, since I did do a fair share of research on the financial system in Lebanon, but I am a designer, and not a finance/economic law specialist.


Sources
Chance, C. 2017 "Fintech in the Middle East An Overview". Pg 12.
Banque Du Liban. 2017. "Payments and Security Settlement Systems in Lebanon". Pg 19.
Banque Du Liban. 2000. "Basic Circular No 69 Addressed to Banks, and also to Financial Institutions and Institutions Engaged in Financial and Banking Operations". Pg 5.
Edit:
I'm saying if whatever form of currency, such as e-Money/Bitcoin, lacks liquidity in the country, then the money can't actually help the people it's trying to help. I'm trying to offer insight, and provided sources talking about the regulatory frameworks in the country that could help whoever is involved in such a project to find ways around this hurdle.

Edit 2:
From Saradar Bank
Capital Markets Authority (CMA) issued Notification No 30 on electronic money risks, prohibiting licensed institutions and the public from issuing electronic money as well as marketing and trading in cryptocurrencies for their accounts or the account of their customers directly or indirectly including those negotiable in the regulated financial markets.
CMA is the same authority that regulates crowd-funding and P2P transactions. I'm unsure what to make of this.
submitted by ArchitectByMistake to lebanon [link] [comments]

How to buy bitcoin in lebanon?

I tried buying bitcoin on coinbase and it wasn't available within our country. How can i purchase bitcoins?
submitted by sugmanuhhs to lebanon [link] [comments]

r/Bitcoin recap - December 2019

Hi Bitcoiners!
I’m back with the 36th monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in December 2019
Adoption
Development
Security
Mining
Business
Education
Regulation & Politics
Archeology (Financial Incumbents)
Price & Trading
Fun & Other
submitted by SamWouters to Bitcoin [link] [comments]

Some interesting news in the stock market this week

While there was little news from large cap names this week, President Trump managed to keep things interesting with his New Years eve tweet that he expected to sign a Phase 1 trade agreement with China in the next couple of weeks. That sent Chinese stocks, along with US companies that import and use Chinese products, higher on Thursday. Then on Friday, oil and defense stocks, along with gold and Bitcoin, received a boost (for the want of a better word) from the US airstrike that killed Iranian Major General Qasem Soleimani. Airline stocks fell as oil reached a seven month high.
In Japan, Carlos Ghosn, the 5 foot 6 inch ex CEO of Renault and Nissan who was facing charges of financial misconduct charges, provided a great story that seems more appropriate for Hollywood than Wall Street. Despite being held under strict bail conditions including constant surveillance, Mr Ghosn apparently climbed into a case for musical instruments on Sunday evening before being whisked off to a local Japanese airport and flown to Turkey and then on to the Lebanon.
Back home, Barron’s ran a worrying story about Canada Goose’s ($GOOS) $1,000 signature parkas and how they are stuffed with goose down and trimmed with coyote fur. That’s a dangerous product to be associated with in the age of the anti-fur movement and social media. The Daily Beast has already run a story claiming that owning a Canada Goose parka may even put off potential dating partners. Canada Goose’s stock price has fallen 50% from 2018 highs and its valuation at 35x earnings would normally be reasonable for a company growing at around 30% p.a. However the risk of being outed for the use of fur in the fickle fashion industry means I would avoid.
Cassave Science Inc’s ($SAVA) stock price almost doubled after CEO Remi Barbier bought 100,000 of stock on New Years eve. The purchase follows positive data from a mid stage trial for one of its experimental Alzheimer’s disease drugs. There is still a way to go before approval, meaning the stock may yet have to give up all the recent gains (and more), but with a market cap of just $166 million the potential upside from an approved Alzheimer’s drug would be huge. The purchase by the CEO is a big vote of confidence from those in the know and sends out a strong signal to the market.
On Monday, Sol-Gel ($SLGL) jumped 90% after reporting positive phase 3 trial results for its acne treatment drug Twyneo. Sol-Gel now plans to file a new drug application (NDA) in the second half of 2020. It is more good news for the company which was already planning to file an NDA for its rosacea drug Epsolay and potentially going from zero to two commercial stage drugs in one year. The company’s valuation has jumped to $320 million, but that looks reasonable given its two drugs that are close to approval with a combined total addressable market of $10 billion.
Otherwise the news was largely confined to analyst upgrades and downgrades. A couple that caught my eye were Goodyear Tire and Axsome Therapeutics.
Goodyear Tire ($GT) is a cyclical stock that will never trade at a premium but with the stock down 55% over the past two years and trading on 7x 2020 consensus earnings its valuation is looking cheap. Nomura Instinet analyst Anindya Das agrees with a target price 33% above Fridays close. Das says GT has a strong earnings outlook having largely completed its restructuring. I would agree, auto sales have slumped since 2015 but, with the average auto age at an all time high of 12 years (and in the absence of a recession), it’s likely that the renewal cycle will begin in the near term. GT’s forward PE looks cheap compared to peers such as Cooper Tires (10x 2020 earnings). The 4.2% dividend also looks attractive.
Axsome's ($AXSM) was up on Monday after reporting positive results from a late-stage study to evaluate, AXS-07, its drug for the acute treatment of migraine. Good news for Axsome and 37 million Americans suffer from migraine. Axsome said it plans to file an NDA in the second half of 2020.
It follows news earlier in December regarding Axsome’s new clinical drug the blockbuster, AXS-05, which reported significant improvements in patients with major depressive disorder (MDD). 47% of patients with MDD achieve complete remission, as opposed to the 16% of patients taking the placebo. Depression treatments are one of the largest healthcare markets in the U.S., with around 7.1% of adults -- or 17.3 million -- Americans affected each year. Estimated at USD 15.60 Billion in 2018. And there's not a lot of competition.
Axsome's stock has surged by almost 4,000% since the beginning of 2019, pushing the stock from a $93 million market cap into the $3.5 billion range. But it could have further upside potential due to AXS-05 and AXS-05 and the large addressable market. Priced at $95.20 at Fridays close Cantor Fitzgerald raised their price target to $125 and HC Wainwright increased theirs from $170 to $200.

For those who are wondering why this has not been posted to stocks it is because it was removed by moderators. I have asked them for feedback and hopefully we can get back to normal as soon as possible.
"Follow" me if you would like to receive updates during the week.
This is not a recommendation to buy or sell. Stocks are not suitable for everyone. Some of the stocks mentioned are risky small cap and/or highly speculative. Please do your own research.
submitted by InterestingNews1 to u/InterestingNews1 [link] [comments]

r/Bitcoin recap - October 2019

Hi Bitcoiners!
I’m back with the 34th monthly Bitcoin news recap. (a bit late this time, sorry)
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in October 2019
Adoption
Development
Security
Mining * Block 600k has been mined and with it the 18 millionth bitcoin (19 Oct)
Business
Education
Regulation & Politics
Archeology (Financial Incumbents)
Price & Trading
Fun & Other
submitted by SamWouters to Bitcoin [link] [comments]

Bitcoin Bull Run  Second Round Of Stimulus  Lebanon Hyperinflation  Eth to $300 Best Forex Brokers In Lebanon 2020 (Beginners Guide) - FxBeginner.Net Beirut Lebanon Massive Explosion Bitcoin not Putin! Libra blockchain nonsense, USA BTC dominance, Lebanon, New hardware wallet No, Bitcoin Isn’t Trading for $15K in Lebanon After Currency Collapse

No, Bitcoin Isn’t Trading for $15K in Lebanon After Currency CollapseWhile some media outlets are claiming that Bitcoins are trading for $15,000 in Lebanon, it would appear the actual price is closer to $7,850Posted by Cointelegraph By Samuel Haig on Lebanon is growing in bitcoin usage and is home to many Bitcoin ATMs. Here are the 9 best exchanges in Lebanon to buy bitcoin. ... If you value your security as a trader, then Bitsquare is the perfect bitcoin trading platform especially if you love remaining anonymous. Bitsquare users can buy and sell bitcoin with all national fiat currencies. Lebanese citizens are turning to Bitcoin to avoid capital controls, according to Al Jazeera, in the wake of an economic meltdown.More people are now trading and moving cryptocurrency in the region. Lebanon is currently experiencing its worst economic crisis in decades. Lebanon is facing its worst economic crisis, with inflation hitting record highs amidst liquidity crunch. Bitcoin is trading almost twice its current rate in an economically-hit Lebanon. Peer-to-peer bitcoin marketplace LocalBitcoins.com shows people selling the cryptocurrency for as high as 22,678,227.03 LBP per token, which roughly equals ... BitMEX (Bitcoin Mercantile Exchange), is a peer-to-peer derivatives trading platform that provides reliable derivatives, futures, and indefinite contracts on cryptocurrencies, primarily Bitcoin. BitMEX boasts over $180B traded since its’ launch and $80B in December of 2017 alone. The BitMex platform doesn’t work with fiat currencies.

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Bitcoin Bull Run Second Round Of Stimulus Lebanon Hyperinflation Eth to $300

Fresh Bitcoin Rally, ... French President warns Lebanon must not “slide into chaos” ... Options Trading for Beginners (The ULTIMATE In-Depth Guide) ... As of this writing, spreads between listings on both sides of the order book appear to exceed 90%, leading to reports claiming that Bitcoin ( BTC ) is trading for $15,000 in Lebanon . Sodium Nitrate kept at house from one year. Kim Jong Un promises 'no more war' amid claims North Korea has nuclear deterrent tech - Duration: 3:56. Sky News Australia 180,641 views. New This video is unavailable. Watch Queue Queue. Watch Queue Queue Live Bitcoin Trading With DeriBot on Deribit DeriBot Backup 751 watching Live now 300,000 institutional Bitcoin eyes thanks to Bloomberg, Chainalysis on Zcash and Dash, Q&A!

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