^Until that day, they remain an unforgivable embarrassment
Yes, an unforgettable reminder that if you don't control your keys, you don't own shit! Same goes for many markets... I'm anticipating the day when some other markets start to unwind and people begin to realize that they are only holding promises, well, I only hope they are as calm. There is something called regulatory oversight, yes it sometimes does not work but it prevents things from going as bad as it went with gox. Deal with it wingnut. As long as that regulatory oversight is selective, it's mainly just protectionism. |
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2) There are also many legal uses for torrents such as linux distros and downloading public domain content from archive.org are two major examples. That being said, DADTWhat kind of logs are you keeping? IP-Addresses? |
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I would certainly avoid an exchange that shows my stops to others. Yes, we need to make sure that exchanges don't profit on this information, but going all public is not a solution IMO.
If an exchange started doing that you could still manually initiate a buy/sell at a certain price using their API - so that information would provide some new insights, but not the full picture of how people are trading. I could. But I wouldn't  I'd better go anywhere else. To be honest: I think people decide which exchange they go to based on ease of getting fiat in/out and most importantly liquidity present on the books. That's at least partially true. But it's more applicable to whales I guess. Small fish like me can choose more loosely. E.g I prefer o trade on BTC-e despite that liquidily is much better on BFX. And how would you want to do that?
Maybe one option would be to have the exchange not offer stop orders at all. People would use bots for that, so neither the public nor the exchange knows about the stop. I don't know, to be honest. But how do you get rid of stops at BTC-e with MetaTrader4? I don't think it's possible. And what about margin call levels and stop-outs? Even if you don't use stops, you can be wiped out (by an exchange too) when using leverage. I don't know metatrader4. Assuming it's an app using btc-e api? I don't want to get rid of stops, I just want to remove the exchanges knowledge about it. Margin call levels are harder. I have no viable idea on how to hide that info from the exchange. Lender/trader would have to manage stuff themselves, but I know of no trustless way to do that. What are stop-outs? |
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Thanks for your post ontopicplease. Slight correction: During a year the price was decimated to 60k satoshi to finally climb to 280k, what it is now.
We also don't want Aurora to be a coin which price is stablized by a foundation that uses the 1M Aurora to stabalize the price. That 1M should be used for development, I think.
I agree. But I guess it's up to them (and I think they plan to use it for development and marketing (adoption)). It's futile to try to overrule a market anyway. Liquidity is good, though, it lessens volatility. |
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I'm planning to ask AUR to be traded on poloniex.com.
Why do we need it? We don't. But as I hinted at in previous post, I want a healthy exchange market for AUR vs. BTC. Cryptsy is the main market right now (bter liquidity is low). A third market can't hurt, can it? |
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I see a lot of posts about value... I want to make clear the true value of Aurora is gona be usability. Whenever its 1 sat or 1 BTC is totally irelevant, as long as people don't use the coin in daily life. Sure the price needs some stable base to start with because people have to exchange FIAT for crypto and it's no good if your Aurora's drop in value by half and the merchant asks twice the price as the day before.
Exchange value is a temporary problem, the moment the coin is used in a closed loop, like Fuse already pointed out, the exchange price is only important for trading outside Iceland. Still important in global economics but not for the day to day use.
So main discussion should be how to get Aurora in as many Icelandic hands as possible and give them a coin thats usable. All FUD about AUR send to exchange addresses is history.
The current team has a few common goals and usability is on top of the list together with security and transparency . So anyone that has good input on those matters is more than welcome to join the discussion. Like other members already pointed out this team wants crypto to succeed in the first place and Aurora has excelent odds to do so with your input and creativity!
I'm "guilty" of posting about value... and no, the exchange value is not temporary and it's not a problem. Unless Auroracoin is the "one world currency", there will always be an exchange value, and that's totally ok. Let me make clear: I absolutely agree with you that the goal should be (and is) to get Auroracoin to be used in Iceland by the people there (and maybe also in foreign trade or by tourists visiting). I want "closed loop crypto economy" as much as you and most others here, but it doesn't mean there can be no outside exchange whatsoever. That wouldn't work. You have to acknowledge that price and usage are two sides of a single coin and they reciprocally induce each other: a higher price will increase visibility and perceived value of the money and usage (saving, commerce,...) will drive price. |
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I'm planning to ask AUR to be traded on poloniex.com. Auroracoin seems to fulfill the critera:  Just asking wether this has been done before, if someone more 'official' from the foundation wants to do it or if there is anything to be said against it before I go ahead. |
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I would certainly avoid an exchange that shows my stops to others. Yes, we need to make sure that exchanges don't profit on this information, but going all public is not a solution IMO.
If an exchange started doing that you could still manually initiate a buy/sell at a certain price using their API - so that information would provide some new insights, but not the full picture of how people are trading. I could. But I wouldn't I'd better go anywhere else. To be honest: I think people decide which exchange they go to based on ease of getting fiat in/out and most importantly liquidity present on the books. |
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The other thing is the ratio between shorts/longs that is more of a indicator of "how dangerous is a short squeeze" if you look right now that's at 21.1%
At what point do you think the risk of a short-squeeze may become too dangerous for shorters?
Yeah, this thread (for me at least) is about: how likely is a short squeeze. Things is: we simply don't have the data to judge this. Aggregate amount of swaps just doesn't cut it. We'd need a list of positions with price and ideally leverage used. We jcould guesstimage when positions are opened (new swaps taken) and we'd know roughly the price. We could also guesstimate when positions are being closed (swap amount decreses) and we'd know roughly the price. But we'd miss a crucial piece of info: which positions are being closed? I wish bitfinex (or other exchanges) was radically transparent with that kind of data. Why stop at the orderbook? I'd also like to see a list of stops. No hidden orders, either. That'd resemble a fair playing field. The way it currently is, the exchange itself (or people working for it), have an unfair advantage against the 'normal' market participants. Running a fractional reserve scheme or disappropriating user funds seem archaic compared to taking advantage of more detailed than published orderbook status, position and user balance information. That taking advantage would work wholly undetectably and without using special powers (just by making trades through the normal user api), too. How likely do you guys think is this kind of "insider knowledge" being used by insiders of exchanges? You're implying something very important: Exchanges know their order book, they know the hidden order, they know the stops (if traders use the exchange stops), and may use these information for their own profit and gain. Sure, it would be more transparent, but would all exchanges be willing to implement it?Would you rather trade on an exchange that implements this or some other exchange? Seems to me we need more competition in exchanges regarding transparency and protection against such potential exchange malfeasance. However, it seems customers most important criteria for picking an exchange to trade on seems to be the liquidity provided and its trading volume. I would certainly avoid an exchange that shows my stops to others. Yes, we need to make sure that exchanges don't profit on this information, but going all public is not a solution IMO. And how would you want to do that? Maybe one option would be to have the exchange not offer stop orders at all. People would use bots for that, so neither the public nor the exchange knows about the stop. |
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Let's keep it clean. We haven't even made it out of the first day of this thread, and we've already started with the expletives. lol
The guy has a right to be cautious. I agree that it seemed pretty FUDish, but if this is going to succeed, all concerns and questions need to be addressed to the best of the team's ability.
-Fuse
It was pure FUD . Just ignore it and carry on, earlish investors deserve to make a lot of money and I am not going to sell my coins at very high prices as I have no use for them. I can use bitcoin of course and I just want to make a bit more while this new team makes AUR usable in Iceland. It's a fair trade. So team ignore the FUD and make me a rich bitch!  Why so modest? Providing liquidity and monetary value to the coin at this stage is one of many important things that need to be there for the coin to work. The chain runs on scrypt and just a few weeks back we had massive problems because the mining crowd was small and tended to hop away at the slightest drop in exchange rate. We were suspecting attacks because the hashrate was tiny and weird things were happening. Now we have about 5 times as much hashrate and worries about security of the chain are way lower. You take a high risk and you might be rewarded... even if it's just with beers in Icelandic bars  . |
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Why the rise dudes? I thought the airdrop failed and the coin died.
http://auroracoin.is/new wallet, airdrop finished, the premine burned and the list can go on.  Don't forget a rising price can be self-reinforcing (especially when it's based on good fundamentals, not simply a pump) Seems like it's starting to bring in some attention already from 'investors'. |
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its been an eventful week in BTC world. High Five to all that chose 240$ as the level for may 1st
high five! |
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btc swaps took a plunge:  |
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i like your drift. Bitcoin in the center aka nucleus.The only material thing... like a stone dropped into some fluid or some charge in a field. The stuff around it? Just ripples. |
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Funny, you can't make any money only buying Yes you can: by buying money. |
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OK, it sounds like both ZB and you agree that Fedcoin could be made to work technically.
The question of whether the market would prefer it over Bitcoin is a different question.
That fedCoin is no competition to Bitcoin, really. The killer app is sound money and fedCoin isn't sound. this is the correct view.
If it's open to access for anyone and designed to dodge KYC, then anyone can be his own USD depository. So it's competition for entities storing USD for you (banks, exchanges,...). Using the fedCoin blockchain to store your USD definitely beats having it lay around at bitfinex (for example) and it also beats fed notes under the mattress, at least regarding security.
i don't think Fedcoin ever gets this far.Me neither. But this is something I would actually have some use for (at least currently). |
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The other thing is the ratio between shorts/longs that is more of a indicator of "how dangerous is a short squeeze" if you look right now that's at 21.1%
At what point do you think the risk of a short-squeeze may become too dangerous for shorters?
Yeah, this thread (for me at least) is about: how likely is a short squeeze. Things is: we simply don't have the data to judge this. Aggregate amount of swaps just doesn't cut it. We'd need a list of positions with price and ideally leverage used. We jcould guesstimage when positions are opened (new swaps taken) and we'd know roughly the price. We could also guesstimate when positions are being closed (swap amount decreses) and we'd know roughly the price. But we'd miss a crucial piece of info: which positions are being closed? I wish bitfinex (or other exchanges) was radically transparent with that kind of data. Why stop at the orderbook? I'd also like to see a list of stops. No hidden orders, either. That'd resemble a fair playing field. The way it currently is, the exchange itself (or people working for it), have an unfair advantage against the 'normal' market participants. Running a fractional reserve scheme or disappropriating user funds seem archaic compared to taking advantage of more detailed than published orderbook status, position and user balance information. That taking advantage would work wholly undetectably and without using special powers (just by making trades through the normal user api), too. How likely do you guys think is this kind of "insider knowledge" being used by insiders of exchanges? You're implying something very important: Exchanges know their order book, they know the hidden order, they know the stops (if traders use the exchange stops), and may use these information for their own profit and gain. Sure, it would be more transparent, but would all exchanges be willing to implement it?Would you rather trade on an exchange that implements this or some other exchange? Seems to me we need more competition in exchanges regarding transparency and protection against such potential exchange malfeasance. However, it seems customers most important criteria for picking an exchange to trade on seems to be the liquidity provided and its trading volume. |
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http://coinmarketcap.com/currencies/AUR top countrycoin again. This is why small amount of coin is better, guldencoin have to be 100 time better then AUR to have same marketcap because so many coin. How many total coin will AUR have now after delete of premine? let me quote rocanonz on this: I was curious how many coins from premine addresses will be destroyed, so i did the math  We are talking about 5.344.627 AUR coins. This means that 15.655.373 AUR coins will ever be in circulation. From the 12.026.563AUR generated coins until present time, 1.000.000AUR from premine was moved to a new address belonging to the Auroracoin Foundation. Today the number of "owned" AUR coins are: 6.681.936AURBut if we subtract the 1.000.000 AUR coins belonging to the Auroracoin Foundation the number of "owned" AUR coins today is: 5.681.936AUR The number of coins that are going to be mined from now until the year 2140, when all the coins will be generated is 8.973.424AUR Correct me if i'm wrong |
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OK, it sounds like both ZB and you agree that Fedcoin could be made to work technically.
The question of whether the market would prefer it over Bitcoin is a different question.
That fedCoin is no competition to Bitcoin, really. The killer app is sound money and fedCoin isn't sound. If it's open to access for anyone and designed to dodge KYC, then anyone can be his own USD depository. So it's competition for entities storing USD for you (banks, exchanges,...). Using the fedCoin blockchain to store your USD definitely beats having it lay around at bitfinex (for example) and it also beats fed notes under the mattress, at least regarding security. |
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