That said, it's weird for an exchange that claims daily volume trading in billions to look for funds to borrow from customers at these rates. Promotion, yeah maybe, a publicity stunt, you might be right and everything is actually harmless but afters years of unfortunate events in the crypto environment I'm looking with suspicion on everything, especially when it comes to a way of earning money doing nothing.
it's pure gimmick IMO. they're just riding the defi train---everybody wants to get paid interest on their crypto now. it's just a marketing ploy to ride that wave and snag some new customers. coinbase is doing customer loans now too for the same reason. it's mainly to get customers to lock up their funds at the exchange, which probably makes them much easier to retain as trading customers. huobi also provides centralized margin lending---charging 0.0980% daily interest rates to traders at this moment. compounded daily, this is more than 10x the effective annual rate they are paying out to lenders with this "savings" account. if they are using this mechanism to provide liquidity for margin funding, then it makes sense. binance does the same thing and just stops making new offers to borrow when there is too much lending liquidity. |
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according to the "suspicious" addresses published by kucoin, the total losses are in the realm of $193 million! https://decrypt.co/43036/kucoin-hack-closer-to-200-million-as-team-releases-more-suspicious-addressesgranted, tether has managed to freeze most/all of the USDT ($36 million?) and some of the ERC-20 token issuers will be blacklisting and reissuing tokens to nullify the hack. but that's a big chunk of change!  There are some rumours floating around and the insider job thing is one of them. Keep in mind this is just some rumours and not facts. literally every time an exchange gets hacked, people say it's an inside job and exit scam. it's impossible to know the truth this early on, but immediately doing a video AMA and promising to reimburse all losses is a good start. that's not usually the way an exit scam starts. |
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congrats on taking it down yesterday, @Steamtyme.
fingers crossed, i'll have internet again after today so i should be back next weekend. i'm going out of town on work next week but i think i'll still be around sunday, tentatively anyway. this is turning out to be one hell of a month......
Thanks hope the move went well, and you can start enjoying your new pad. i'm getting unpacked and enjoying the new place but......when it rains it pours. i got up to register for today's game and noticed my cat is really sick. her breathing is labored. i'm at the vet with her right now. fingers crossed it's just a passing thing. we have had a whole lot of wildfire smoke in the air. that may have to do with it. missing a 3rd week in a row of our series.  hopefully i can recover in the standings! |
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Another Update; While already existing users have until 12 February 2021 to have their accounts verified in order to continue trading in the exchange, Bitmex has passed out another announcement on the 15 September 2020 that all new registrations will require the users to first complete ID verification before being able to make deposits and trade on the platform, or receive affiliate income for referrals. KYC/AML regulations are biting harder! https://blog.bitmex.com/announcing-the-bitmex-user-verification-programme/wrong link. this is the announcement about mandatory verification for new users: https://blog.bitmex.com/new-account-registration-verification/thanks for the heads up though. i'm glad i already have a couple accounts there that i can use in a pinch without submitting KYC, although tbh i am paranoid to fund them at this point with the threat of mandatory KYC looming over my head.  when the market picks up again, i'll probably stick with a futures platform that doesn't require KYC. kumex and bybit and some of the smaller guys are still holding the line..... |
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I found this quote particularly interesting: For instance, Kinitsky said the firm could launch a crypto debit card, a yield account product, or an IRA product. Its banking status could also allow it to offer services in stock, derivatives or commodities trading, he added. It would be fantastic if you were able to deposit bitcoin and buy stock with it, and having a legitimate "yield account product" which I assume is an interest-earning savings account, except with crypto and not fiat, would be freakin' awesome. it's just wrapping a pretty bow around third party custodial risk. i'm not particularly comfortable with people locking bitcoins up in defi smart contracts to farm yields. i'm even less comfortable with people depositing bitcoins to trusted third party custodians to realize those yields. high-yield savings accounts are justifiable for depositors because of things like FDIC insurance. there will be no such insurance on your bitcoin savings accounts at kraken!  |
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I wonder if defi is going to limp on to fuel the next bubble or whether it falls apart before that happens. It looks like an even bigger piece of laughable shit than ICOs which is really saying something. the timing seems wrong. ICOs blasted off in early 2017, after bitcoin made a new all time high. we're nowhere near that point now, barely past 50% of the 2017 high. unless the market goes parabolic really soon (unlikely IMO) i don't think defi can sustain the hype long enough. i bet something else will emerge as the "ICO" of the next bubble---something that gets hyped at just the right time. As for gate.io, anywhere that is 'hacked' as their former incarnation was and then loses interest in repaying customers and relaunches is a fuckhole regardless of this current situation.
so BTER never paid customers back then? i know they got a loan in exchange for equity, and paid back ~10% of the losses---this was 4-5 years ago. after that, i stopped keeping track. |
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As a result of the whole DeFi hype, fees are starting to spike that high that Coinbase decided to pass the fees on their customers. It didn't mentioned BTC though, but I will assume that if similar issues (like 2017) wherein the bitcoin fees skyrocketed, I wouldn't be surprised if Coinbase pull a similar stunt. it's a site-wide policy. their support page makes no distinction between bitcoin, ethereum, or any other network. they are now charging miner fees for bitcoin withdrawals too. Bold move on them to pass it to their customers, and I'm sure this won't be taken lightly and we might see an exodus of withdrawals and moving their funds to other exchanges. i doubt it. i'm surprised they didn't do this sooner tbh. last year, they raised fees from 0% to 0.5%---some of the highest fees among all spot exchanges. they did it because they knew their brand/market share and liquidity were dominant enough to survive any exodus, and they were right. they are still probably the biggest spot exchange, certainly in the USA anyway. they are planning for the next bubble. during the last bubble in 2017, they were still in growth/investment mode, using zero fees as a way to build a solid customer base and market depth. now they no longer need to do that. they feel it's time to make hay while the sun is shining. that's why they are considering a public listing too, i'm sure. |
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Given that Globb0 has been playing regularly on pokerstars and doing decent there, winning on swc would be close to taking stroll in a park. Aside from weekly bitcointalk poker series, thats bloodbath there because alot more tighter player are playing there lol at micro/low stakes, pokerstars is probably pretty soft. that was certainly the case years ago when i was playing there, and is still the case on bigger sites like ACR---more fish. i find SwC regs tougher than the average tourney player on ACR. it's just that SwC tourneys are so small that it's easy to final table there. I am ill. I have CMS so I am discovering what its like to be less able.
As I am also redundant im just at home with my thoughts. damn bro, sorry to hear it. i hope you kill it at the poker tables. except when you're playing me of course. |
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these days, i don't have much time to play, and the long breakeven-ish stretches are killing me. tourneys used to be my bread and butter but cash games are becoming more attractive lately.
I always want to ask this one, how many ITM percentage that you should get to be considered 'decent' or over the average joe ? I check on pokercraft and most of the average joe actually has 10% on average, some score almost 20% so I supposed that is considered as good or probably pro online poker player. Of course the percentage drop with the amount of tournament that you joined but its pretty hard sometimes to get ITM spot with over 3k registrants it would be reasonable to shoot for 15-20% ITM. anything over 20% is great IMO. less than 10% over the long run = something is probably wrong, although that can depend on playing style. if you're only ITM 9% of the time but you're really good at making final tables or binking tourneys when you are, you're probably a very profitable player. ITM rate obviously doesn't capture that. that's why ITM rate isn't a very important stat. ROI or hourly earn rate is much more important. |
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Biden wins the popular vote but loses the Electoral College 11 in 100
No one wins the Electoral College
No candidate gets 270 electoral votes and Congress decides the election
<1 in 100 Only a 11 in 100 for this event seems to underline a Biden win but then the Clinton loss was unlikely I suppose. I'm still not sure that site accounts for diversity in voting regions not following averages, obviously theres alot of votes that end up not having any weight overall because its a big win in that state and those votes werent needed there or minority votes elsewhere. Never heard of the 2nd event being possible with congress. I do recall the hung election of Bush jnr. and thats more probable at 5 in 100 apparently. I could believe the votes might be obscure even on the day till late. it hasn't happened in our lifetimes. the house chose the president in 2 elections---1800 and 1824, jefferson and jackson. the 1800 election was a total fluke; it only happened because electors neglected to distinguish between president and vice president, coincidentally resulting in a tie. that's unlikely to happen again!  based on the 2016 swing states, 270towin.com/ lists 64 possible combinations resulting in a 269-269 tie. still unlikely IMO, especially when you consider states like maine and nebraska who can split their electoral votes. betfair has biden 53% to win, democrats 55% to win the senate, and democrats 85% to win the house. imagine if all 3 come true. the markets would hate it! |
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i'm not sure what they realistically hoped to accomplish. gate.io doesn't set the price of KIMCHI, the market does.
They probably argue that Gate is the one dumping on them. I think Binance can suffer the same fate with their Sushi listing, though nobody report them. In short, exchanges are listing defi without any due diligence and expose traders/investors to a very high risk. Exchange wins, investors fucked up. that sounds like 9 out of 10 ICOs or IEOs or pump/dump altcoins to me. another day, another new technology being overhyped on altcoin exchanges---nothing new to see here! anyway, i doubt much will come of this. gate.io is functioning normally, the police only came to a satellite office (not clear what access level these employees had), and it sounds like provincial police who probably don't have much authority to do anything. i dunno what these KIMCHI users hoped to accomplish either, aside from shooting themselves in the foot by sicking regulators on their biggest exchange. |
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Also, I can't stand tourneys variance so much these days. like when you're about to reach the final table, you get AA, you see a whale pushing from UTG and he finally craks your aces with J8s after waiting for so long.
+1. i didn't mind so much when i was grinding 100+ MTTs a week and working through the variance quickly. these days, i don't have much time to play, and the long breakeven-ish stretches are killing me. tourneys used to be my bread and butter but cash games are becoming more attractive lately. if you're used to sites like pokerstars or even ACR, you will definitely be disappointed by the size of tournaments at SwC. still, they are the best crypto-only poker site, hands down.
On the upside of that you don't need to sit down and commit several days to the grind for the last table. but then, how much is the final table worth?  i hear you though. this stuff boils down to what kinda tourney player you are. my bread and butter has always been mid-large field MTTs and 9-man SNGs. 18-45 man tourneys are a bit of a weakness for me---sadly, our bitcointalk series usually falls in this range. |
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look at @Globb0 becoming quite the poker maniac!  I am not really particular to swcpoker.eu, just a curious question before I will try my luck in that site. Upon your experience,
usually how many are participants in every tournaments that they held? Like the maximum number that you remember and the minimum one.
Because I am really looking for a platform where there are plenty of active players and there are no bots of course so we can really enjoy the game.
they prohibit bots and i've never noticed a problem with them. if you're used to sites like pokerstars or even ACR, you will definitely be disappointed by the size of tournaments at SwC. still, they are the best crypto-only poker site, hands down. |
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congrats on taking it down yesterday, @Steamtyme.
fingers crossed, i'll have internet again after today so i should be back next weekend. i'm going out of town on work next week but i think i'll still be around sunday, tentatively anyway. this is turning out to be one hell of a month......
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Nothing hilarious about exchanges getting arrested for listing scam tokens, kinda normal and expected that exchanges do shady shit like that (and then they later claimed they knew nothing about it or were duped by the token devs lol).
Even Binance is guilty of listing silly Defi tokens now. What can we do?
Sushiswap was copy paste, remember?
there's a lot of confusion about what happened here, and it's less serious than it first appeared IMO---more like an investigation than a shutdown. it wasn't for listing a "scam token" per se either. a bunch of salty KIMCHI investors lost money when gate.io listed it and the price subsequently dropped, then they reported the incident to local police. i'm not sure what they realistically hoped to accomplish. gate.io doesn't set the price of KIMCHI, the market does. https://beincrypto.com/gate-io-exchange-survives-police-raid/i don't expect much to come of this. |
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Interesting case for sure.
If someone breaks into your computer and your Coinbase Pro, the closest thing in my mind would be to withdraw the coins to another wallet and disappear . But in the OP's case, someone broke into only to place orders, this is more than weird and nobody will use so much resources to just fool around with your orders.
Looks like not everyone was reading the OP deeply enough.
I wish there's more investigation on that case.
it would help to know which orders were filled/which coin was bought. that would probably explain things. the nature of this case reminds me of the high profile binance "hack" where phished logins/API keys were used to pump viacoin. the hackers used compromised accounts to buy up VIA, while they used dozens of other accounts to sell VIA at the top. then they tried to immediately withdraw the BTC. https://hackernoon.com/alleged-hack-of-binance-linked-to-viacoin-pump-bb9066bf96bfIt could be that it was an attempt to pump that certain coin/token. I'd be more certain if those cryptocoins have a relatively low liquidity.
exactly, that's why i'm curious which coin we're talking about. this could have been part of a larger operation. in the VIA case, it was a very low volume market. |
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everything says "local police"......i assume this is china? i'm guessing so because if you dig into gate.io, it was originally chinese exchange bter.com. they rebranded to gate.io and dropped CNY trading when the 2017 china ban came down, but i wonder if they are still operating in violation of the ban. late last year, provincial police in shenzhen identified dozens of exchanges still illegally operating. i wonder if this has to do with a similar operation? https://cointelegraph.com/news/china-shenzhen-identifies-39-crypto-exchanges-defying-trading-banCryptocurrency exchanges operating illegally in one city in China will face the wrath of a joint government effort to oust them, reports claim.
On Nov. 22, authorities in Shenzhen have identified a total of 39 exchanges falling foul of China’s cryptocurrency trading ban, according to local news outlet Sanyan Finance.
The operation reportedly included participation from China’s central bank, the People’s Bank of China (PBoC), the Economic Investigation Bureau of the Municipal Public Security Bureau and the Municipal Communications Administration.
It remains unknown what consequences the exchanges will face, with Sanyan highlighting a desire to crack down on liquidity.
A rough translation states the measures involve a three-pronged approach:
“It is reported that the action will focus on three activities: first, providing virtual currency trading services or opening virtual currency trading places in China; second, providing service channels for overseas virtual currency trading places, including services such as drainage and agency trading; Sell tokens in various names, raise funds for investors or virtual currencies such as Bitcoin and Ethereum.” |
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I reckon your analysis is on the wrong way hehe. I predict that Trump will win the electoral college and make him the rightful winner, however, the popular vote will be for Biden. The Democrats will then not accept their loss and continue the riots and barricade their own communities.
Why you are assuming this? Last time, Hillary Clinton received almost 3 million votes more than Trump and still accepted defeat. Because Trump won thanks to the electoral college. hillary has changed her tune a bit recently. this time she says the democrats should not concede under any circumstances: https://www.foxnews.com/politics/hillary-clinton-joe-biden-should-not-concede-on-election-nightHillary Clinton issued a warning for Democratic presidential candidate Joe Biden in a new interview released Tuesday, urging the former vice president to not concede defeat on the night of the Nov. 3 election — no matter the circumstances.
"Joe Biden should not concede under any circumstances," Clinton said. "Because I think this is going to drag out, and eventually, I do believe he will win, if we don't give an inch and if we are as focused and relentless as the other side is." if the election is close, i'm anticipating a contested election similar to george w bush vs al gore in 2000. weeks of legal challenges and recounts etc. no, trump won't declare a state of emergency and try to take dictatorial control and outright reject the election results and judicial system---you'd have to give me insanely long odds to bet on that. but court/recount drama that drags out into late november or december? i could see that happening for sure. |
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What if you don't even know what was the price of that coin when you received it? Example either that coin is now 0 or doesn't exist or very little but coinmarketcap doesn't show anything on it?
we're still talking about staking rewards, right? can you give us an example of a coin this situation applies to? technically, in a legal sense, it doesn't matter if you can't find the data now. you're still liable for the fair market value of the income received when you received it. if markets existed at the time (meaning your receipts had value and is thus income) then the data is probably out there somewhere.in practice, nobody (including the IRS) is likely to care about or even notice your worthless, dead coins. I mean im sure there are some wallets that might give you tons of coins for staking but you dont have a clue how much its worth? What if its not worth nothing? Also if its worth pennies and you get them every few days, you going to record 50 transactions for the year the moment you sell them each time? this is why people say the USA tax code is really fucked up for mining/staking and also forks/airdrops. it's way too complicated and burdensome. |
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Hello All. Gamerwin123 is my username on bitcointalk and on swc it is gamerwin125. I will send 400 chips for the next event as soon as I know whether I will be able to play or not. Add me to the spreadsheet
welcome, glad to have you! there are no restrictions on entry into the series, so just send the 400 chips if you plan to play, and then shoot a PM to @efialtis to remind him to send the password. I will stick to the account I have and will wait to fix it. With the new one surely I will not have the chat enable. Without poking the others in the board it's boring LOL
oh right, that damn chat requirement. fair enough! |
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