Smooth, you are far too hard on Busoni. No one is going to lose coins. They will just be limited in the rate of withdrawal. No, the limited rate is 0 if you don't verify level one. That's a change to the terms. There should be an opt out, or a least a notice decent period. I'd have far less of an issue with it just being rate limited, but that's not what happened. smooth, we have to assume that the people running Polo are rational players who don't want to piss off their customers. They had to have known that making these changes happen within two days was going to do that. It makes no sense for them, either socially or financially to *want* to piss off their customers. Polo denies it up and down, but the timing coupled with the fact that they stay silent everyone someone asks them to explain why they choose to implement this policy in two days suggests to me that their hand was forced, and likely they can't discuss it openly. There is simply no way they would flagrantly pee on their customers like that without good reason. These aren't asshat bankers; they are crypto true believers who recognized the appeal of XMR so much they featured it heavily. So I think we should be mad at the situation, but not blame Polo too much. It really doesn't feel like their fault. Lol. I didn't realize this needed to be said. I though everyone just knew this. But uh if it does than, yea, all of that ^ |
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I laughed my ass off, thanks. Not sure how I haven't seen that before. you and i both man. i laughed so hard when i first saw that. one of those sorts of laughs you only get to experience a hand full of times in your life. |
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I know the theme of this thread is funny ironic stories. But you guys have to admit the one I posted was great to read. 45% of young people skeptical of the dogma. Who here could have anticipated that? It's so easy to forget the extent of the disconnect between how the culture industry portrays the world is, and how it actually is. They would have us believe that we are some tiny fringe minority. "Everyone knows" that we are. But their best kept secret is that we actually aren't.
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How will short selling affect XMR in the short term?
People used to be able to go long but not short. Now people can do either. Meaning one would expect there to be more short selling now than before. So it's bearish. Right? Am I missing something? But people also didn't used to be able to go long on margin. So that should be bullish. Maybe it cancels out? |
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I'd like to participate in this thread, but im not a fan of moderated threads. Oh well.
Have a free bump on me though.
It's probably one of the least moderated of all of the moderated threads. I've deleted maybe 10 posts total in a year, and explicitly explained the reason for every single deletion. But to each his own. Welcome and goodbye. Just go through and look at some of the overtly trollish posts that are still here  |
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This season of GoT has been rather lame so far.  I agree with you...it has been moving super slow... This is because in the books half of the stories that they are showing on the tv show were separated by an entire book. So imagine how much more quickly the stories would be progressing if half of them were held off till next season. If you are wondering why they are doing it differently than the books, its because everyone was driven mad by the release of a book that didnt cover any of half of the story lines (including but not limited to deaneries). I remember it was driving me mad, i could hardly enjoy the book because i just wanted to speed through it so i could learned what happened to deaneries. I cant imagine what it was like for people who had to wait multiple extra years. Anyway the show really took the right direction with this but a slow start to the season is a natural unavoidable consequence. |
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Hilarious. That's a short lesson as to why you DO NOT short Monero. I mean, Monero isn't another shit coin. It has true believers, some of which who have deep pockets. If your shorts start threatening the long term reputation of Monero, all it takes is a few pennies out of the penny bank and fucking poof. Margin call, bitch. First rule of Monero Club: Don't short Monero club. Haha and if you are a monero bull, and you can force a bunch of margin calls, its like a self fulfilling prophecy as polo auto executes monero buy orders in response to your monero buy orders. |
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Everytime you get a pump the bears will short it to death. This revolution may not be cheap.
It will be fair and legitimate and if by golly Monero gets there it will be one the greatest accomplishment of mankind. In the long run its a great thing. Anyone who is short will have to buy monero back at some point in order to pay back his loan anyway so its certainly not the end of the world. In the mean time they will temper the "irrational exuberance". Shorts smooth out the market and mitigate, to some extent, those giant spikes followed by crashes. I for one would rather take the stairs up than a cannon. At-least that way there is a chance of staying there. A parabolic rise is always accompanied by a crash. A smooth measured rise has a good chance of plateauing. |
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I have all my monero at poloniex exchange. I haven't had the time to store them properly so I just left them there for now. I'm planning on transferring most to mymonero.com. Is that my safest bet?
It's a very safe bet, as long as you trust your computer not to be infected with keylogger-type malware. If you want that extra security just make a linux bootable usb. |
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how do you short xmr? what is the process?
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causes beyond its reasonable control, including but not limited to acts of God LOL Is that in the terms and conditions? yes, under 27. FORCE MAJEURE I love how these are like the only terms and conditions in the history of the world that people are actually reading.  |
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Oh it's not that bad. All I had to do was put in a phone #, it could be temporary, and address and you can withdraw.
i just dont like all that talk about crosschecking us against databases. gives me the creeps. ill just use shapeshift.io if i want to buy more in future. |
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Offering margin trading so now people have a couple days to comply with KYC rules (identity information most likely drivers license and utility bill) or risk potentially having their funds frozen. At least this is what I have gathered thus far. I'm sure it will be done similar to what Bitfinex did iirc.
I logged in and did not find anything related to KYC requirements. Where is this information from? go to your balance and/or profile i find it very sketchy too https://poloniex.com/terms/11. (AML) Anti-Money Laundering & (KYC) Know Your Customer Policy Poloniex protects itself from involvement in any activity that facilitates money laundering or other criminal activities by following the FinCEN guidance for MSB’s operating in the United States. Poloniex aims to reasonably identify each user by cross-checking user data against governmental watch lists such as OFAC, as well as 3rd party identity verification and authentication services. If a user or a user’s transaction is flagged as suspicious through our internal controls, Poloniex will require additional proof of identification from the user and has the right to not permit any trades, deposits, and/or withdrawals until additional and verifiable proof of identity is received and the Compliance Officer has approved the user for use of the Platform. By agreeing to our Terms, you acknowledge and understand that Poloniex maintains verification levels which require user participation and verification in order to obtain, with leveled permissions based on user-supplied information, our ability to verify it, and our internal policies. You accept that you may not be able to achieve a desired level of verification, and Poloniex reserves the right to determine, at its sole discretion, the appropriate Verification Level for any user, as well as the right to downgrade users without prior notice. Poloniex may, from time to time, implement policies restricting Verification Levels by nationality, country of residence, or any other factor. This may affect your ability to withdraw funds in your account and you indemnify Poloniex against any losses associated with an inability to deposit and/or withdraw funds based on your verification level. Gives me the heebie jeebies. No thank you to that nonsense. |
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NEM still only top 25, even dumb $hitcoins are beating it.  Like Monero is a fork of Ducknote (Bytecoin), probably a fork of NEM vould be more successful especially if ran by somebody who knows how to hustle and market. That analogy would only be apt if NEM was demonstrably a premined scam, like bytecoin was. Monero is a great project, it is not a "$hitcoin". Cryptonote is an amazing platform and monero is the cryptonote project that has the most developed network. |
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I believe this is likely the bottom of this mini-valley. The price should move up from here, based on what I'm seeing from network hash rate. The network hash rate was at 13Mh/s when I first learned about Monero a week ago. It hit a high of 15Mh/s with the recent mini peak, and then dropped with the price, back down to the 13s. Today, it's back up to 16+. In addition, we keep bouncing off of the 2300s for support. I think we are at the bottom of this mini-correction. Time to buy. wow look at that candle stick. was that you? |
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As I suspected, some hardcore bitcoiners rather public support a scam with broken ring signatures over Monero, lol Luke-jr did digress that perhaps 80% premine was a bit excessive. |
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any particular reason the price is going up? is it on any sort of news?
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scary...  |
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Yeah, an ecosys with 3-5 strongish coins is fine. Buy them all, done. The problem, as you touch on, is if that 3-5 is under constant flux; eg, for a few years, it's coins A,B,C,D,E, and then a few years later, it's F,G,H,I,J, etc... Most investors with significant capital would probably just look at it all as a toy.
They can look at it that way if they like, but that is how things are going to be. It is the nature of consensus algorithms that they are very slow to adapt. It is the big drawback that counterbalances all of the amazing properties that they allow, such as decentralization, fault tolerance, escape from counterparty risk, among many other things. The price, so to speak, of these amazing properties is an inability to adapt and change. While on the other hand technology is constantly advancing with no end in sight. New better ways of doing distributed consensus, opake blockchains, and distributed computation and 1000 things I cant think of will always be developed. The only way to incorporate these new advances without breaking the consensus is to regularly create brand new networks with new ideas about specifically what it is they are all consenting to. Entrepreneurs will find ways of profiting from insulating consumers from this constantly churning and frothing market. On the other end of the financial contracts these entrepreneurs use to accomplish this will be a class of speculators and investors who specialize in understanding these markets. It will present tremendous opportunity to those capable of capitalizing on it, and tremendous risk and loss to those not. Honestly they can think its a toy if they like, because what we are doing here is going to make them largely irrelevant. What they think wont even matter in the future we are building. I don't think transitions will happen to that degree, and not that quickly. Networks will be born if they fill a need. If a rival network comes into existence without a novel POW, it will be attacked (litecoin - feathercoin). People will strive for a novel network with a novel POW if the network provides new function, hence Monero. Basically people will constantly invent better and better things, and the value proposition of this better software will clash with the value proposition of the network effects of its predecessor. The value of networks shouldn't be understated, it is extremely desirable, and no small innovation will be sufficient to over take it. But eventually, the restless tide of new innovations will overtake the network effects of the previous generation of crypto, and the change will happen. This will be a story that repeats apparently endlessly. As for how often and how its punctuated and how many realistic contenders will be operating in the space at any given time, i cant really speak to. Depends on the rate of innovation, the value that people place on that innovation, and the value that people place on the advantages of an established network. |
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