Monero can't replace Bitcoin (for now) but Litecoin is easy target. From miners point of view Litecoin just can't keep promises anymore.

I can see how you think this is a matter of principle, but your solution is raising the minimum trade amount to 5 USD? I can see bot traders complaining about that...

Show me the screenshot to that. Because I just made one bigger transaction and it correctly got the fee.
In fact, it made a 0.47% fee, less than 0.5% because it rounded to the cent.

Not trolling. I'm just exposing this is how rounding works in many scenarios. Even when you pay taxes at your store.

OP was selling, this small transaction rounding problem doesn't happen if you are buying BTC, only if you are selling in small chunks.
Just try it on the exchange and you will see.

Of course. but I am talking about final market cap. MSC, NXT, Ripple, Blackcoin etc (all other coins with largest market caps) have been all but fully distributed, so the calculation of Moneros cap can be comparative to them. (unless you think that those are not your competitors and it can come close to next btc or ltc)

Therefore your stake here will be constantly inflated. You need to beleive this coin will support that ultimate valuation unless you are only involved for short term speculative reasons.

Seriously? Where's he now? Is he still working on Bitcoin? No..he gave it up 3 years ago, and the original bitcoin wallet etc back then was improved upon tremendously by Gavin... Again, No one would work on something as complicated as Bitcoin without getting paid.

this was around a week ago. and now the final market cap is 45,000 btc or ~ $19million based on orders here  
or a 10x (1,000%) increase in 7 days?

putting it at number 7 in rankings. above mastercoin and climbing close to NXT now. without a usable pool, without a GUI. without acceptance on any exchange aside from forum-based trades

definitely in a mania phase. unsustainable pump. I'm not saying this is as high as it will go because market is pretty dumb, definately alot of people can still join the pump but be careful investing.

Oh c'mon guys.

OP did transactions with a BOT lower than $1 as per indicated limitations. He probably was hoping that he would not pay transactions fees.

If you are doing that many transactions, just do large transactions. Why is he making thousands of really small transactions? He's probably just slowing down their system anyway.

I'm on with Bitstamp on this one.

Didnt BTC China get one of their accounts closed?

well your impression is from reading reddit and forum opinions. but if you read the actual announcements from the chinese authority and look at which banks they have talked to (central not commercial). then read on further to the bits where the government asks bitcoin exchanges to register in regards to the telecommunications regulations. you will see that government is not say bitcoin exchanges F**k off, they are saying that bitcoin exchanges should not be using central banks(personal accounts) and should be registering.

as for OKCoin. if you compare their closing down statement with amirs statement in regards to intersango.. you'll get my point.
some basement dwellers and antigovernment types like to think they are bitcoin businesses. but from a banks point of view, they are using FIAT, thus thy need to conform to fiat regulations. i am more suprised that OKcoin didnt just turn themselves into a bitcoin-alt exchange and just remove the fiat aspect. but oh well atleast thats one less unprofessional hobbyshop out of the ecosystem

alot of people think that exchanges are run by professional adults that want to be transparent. well intersango proves otherwise. the previous owners of cryptorush (who were teenagers) have proven otherwise. these type of people do not want to get government registered and be fully legit, so it is expectant that things wont go their way, especially in intersango and OKCoins cases where they were touching and handling a government owned product(FIAT)

Bobby Lee's exchange is fine, why? . because he is an adult, that has registered his business and is now using a commercial bank account.. hense why he is not having an problems.

some exchanges are closing due to the fact that they are not using BUSINESS bank accounts, instead they were using personal accounts.

chinese central banks are not commercial banks. they are personal banks. and if a exchange cant handle or be bothered to get a business account, which requires registering a business name with the government, getting tax registration numbers and showing the bank a business plan.. then do you really want to be trading with it, as that is normally a big neon sign that they dont want to be official. and that glows as "risky".

take intersango.. not chinese, but shutdown due to using an account not aimed for business purposes (you truely think amir taaki went through all the proper red tape??? come on!! think about it)

the problem with banks is not actually bitcoin, its lack of transparancy. this is why bobby Lee's chinese exchange is still running, and all the other basement dwelling exchange operators had to close shop.

so the basic point is, if you want to do business with bitcoin, do not use personal accounts.

it is even written by the chinese government themselves in their guidelines that bitcoin exchanges need to get government registered and to do it right. the same goes for any country. china is a no big news event. its the same story as intersango and the other exchanges across the world, in the past.

"fee fraud"... big words, huh?

Fact is, I knew about it, but it doesn't affect me more than for just a few cents (despite large volume), because I don't trade with bots or by splitting up a large trade into many small ones.

I can see how it would affect two types of traders: those that use bots to make many very small trades, and the example from the thread, of putting up a large order, and then having someone else "nibble" at it, thus driving up the relative fees.

Not ideal, but I have to ask: how do you prefer it to work otherwise? Rounding to a full cent seems reasonable, so the only solution I can see it calculating the x% fee they advertise over some time span's volume, as opposed to the volume of each (tiny) trade, which is then rounded up to a cent. I can see how Bitstamp would consider that an unnecessary effort to save some traders a few cent.

In either case, and in the spirit of choosing your words super carefully in here (remember kids, there are Bitcoin /fanatics/ in here, not /cultists/), the term "fraud" is entirely misplaced.

I guarantee it.

they are asking for bank statements. I already asked them what sort of bank statements they want to see. I asked them how I can proove that it is savings money. I hope they will give me a detailled explanation. I am not willing to send all my bank statements since I became 18 years old...

And they are also asking for an international passport. I am in my student house at the momeng. I will search for it this weekend, but I fear that my international passport is not valid anymore. I never tarvelled internationally outside the european union in the last 5 years. In Belgium we only need to have an ID card, not an international passport. And a new one costs 80 EUR. That is half of the money I wanted to deposit on my bitstamp account...  

Then its their API that isn't restricted to minimum trade of $1.
The minimum trade amount needs to be corrected  o $5 on both api and website, so that the maximum charged fee is $0.01, ( 0.2% fee of trade)

Somebody was clearly buying, right? Because there were trades. You just weren't bidding aggressively enough, and other people were. I felt I was doing well selling "above market" at 80, now I feel stupid. Whoever it was who bought from me did well.

Well you mentioned trying to buy it for a while constantly, so yeah it has to do with part of the convo..shit


 

Gotta keep up =P

some exchanges are closing due to the fact that they are not using BUSINESS bank accounts, instead they were using personal accounts.

chinese central banks are not commercial banks. they are personal banks. and if a exchange cant handle or be bothered to get a business account, which requires registering a business name with the government, getting tax registration numbers and showing the bank a business plan.. then do you really want to be trading with it, as that is normally a big neon sign that they dont want to be official. and that glows as "risky".

take intersango.. not chinese, but shutdown due to using an account not aimed for business purposes (you truely think amir taaki went through all the proper red tape??? come on!! think about it)

the problem with banks is not actually bitcoin, its lack of transparancy. this is why bobby Lee's chinese exchange is still running, and all the other basement dwelling exchange operators had to close shop.

so the basic point is, if you want to do business with bitcoin, do not use personal accounts.

it is even written by the chinese government themselves in their guidelines that bitcoin exchanges need to get government registered and to do it right. the same goes for any country. china is a no big news event. its the same story as intersango and the other exchanges across the world, in the past.