On a side note .. Anyone know why BTC network is so slow right now?
If you mean slow to confirm transactions, it may be because of the big miners. Transactions are supposed to be confirmed by the miners, but the amount earned from that was far less than using the hash power to mine. Most of the big miners are filtering out the confirm requests in order to goose their success rate on mining. It`s been almost an hour and not 1 confirmation... wtf? Strange no? |
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On a side note .. Anyone know why BTC network is so slow right now?
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The point is some people are underselling there XCR in exchange for BTC thinking that BTER may pull a bankrun. Others are holding because they do not want to risk selling and not being able to get back in if things turn out favorably.
My point is that it makes no sense to "holding because they do not want to risk selling and not being able to get back in if things turn out favorably" in the situation when "some people are underselling there XCR in exchange for BTC thinking that BTER may pull a bankrun" and not have buy orders placed as low as 1 Satoshi. If you think XCR is not worth buying at 1 Satoshi or 10 Satoshi - which is what you prove by not having buy orders at those prices right now - you should sell all XCR you have. there are buy orders all the way down to a 500,000 order at 200 satoshi. You are not listening. There are 100M XCR right there at Bter but people are buying less than 10M, maybe even less than 5M. Unless there is at least 100M in buy orders it means a massive dump which would fill all existing buy orders - it can happen - would leave many with XCR which they can not sell, at all. It also means that those same people missed a chance to buy a shitload of XCR for as low as 1 Satoshi. Put differently, if you are holding XCR but do not have buy orders even down at 1 Satoshi you are a proof XCR is not worth even 1 Satoshi - so why the hell you are still holding it? One is proving they do not wish to take on any more risk and or do not have any more disposable BTC. |
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3. Gamblers just hold. If you do not have any more BTC to put up buy orders that means you are gambler, period.
I disagree. If you do not have any more BTC to put up to buy orders that means you are FULLY INVESTED. Investors hold for the long term, Gamblers buy and sell as the price goes up and down. subSTRADA was talking about traders... not investors. They are different! Problem is that you noobs think investor is someone who buys and holds no matter what which is not true. Noone was ever arguing that. We were arguing the pricing of XCR and the lack of buy support. |
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I would remove all NEMstake SELL orders as the NXT thief may use it as a gateway to cashout of NXT.
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The point is some people are underselling there XCR in exchange for BTC thinking that BTER may pull a bankrun. Others are holding because they do not want to risk selling and not being able to get back in if things turn out favorably.
My point is that it makes no sense to "holding because they do not want to risk selling and not being able to get back in if things turn out favorably" in the situation when "some people are underselling there XCR in exchange for BTC thinking that BTER may pull a bankrun" and not have buy orders placed as low as 1 Satoshi. If you think XCR is not worth buying at 1 Satoshi or 10 Satoshi - which is what you prove by not having buy orders at those prices right now - you should sell all XCR you have. Some do not want to take on any more risk and or do not have any more disposable BTC. |
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There are no buy orders because people are uncertain regarding the future of BTER and do not want to hold any equity on the exchange.
So why they are holding XCR? Because they can't take it from the exchange yet? If it was released, I'm sure many would move it from Bter as soon as possible. They are holding XCR because they are gamblers, not traders. Situation is as follows: 1. Most traders would either withdraw all coins from Bter or sell them for coins they can withdraw (BTC). 2. Traders who like huge risk would hold and bet on panic sale which means putting up buy orders very low, at 1 - 50 Satoshi, for up to 100 millions XCR. 3. Gamblers just hold. If you do not have any more BTC to put up buy orders that means you are gambler, period. The point is some people are underselling there XCR in exchange for BTC thinking that BTER may pull a bankrun. Others are holding because they do not want to risk selling and not being able to get back in if things turn out favorably. The price has more to do with the state of affairs of BTER than with CRYPTI. Place your bets. |
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Your thread's title does not match the content of the post itself.
It has no impact on the other 2.0s as there's nothing a crypto currency can do to avoid these kind of thefts. beyond blacklisting the use of exchanges from countries like China and Nigeria. It wasn't the failure of a brain wallet or some security mechanism - it was the failure of a Chinese exchange who took less safety precautions than the typical holder.
NXTs image/confidence will forever be tarnished regardless of the outcome. As a result people will abandon ship and start supporting another 2.0. |
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Have they said if user data has been compromised everyone should change passwords
If you must be told to change password after a hack that means you are idiot. The main issue for XCR now seems to be lack of buy orders. 100% coins (tokens) are there on Bter but not even 10% could be sold even if all buy orders end up filled. There is not much confidence when it comes to XCR, obviously. Are you trolling or just trying to get in cheaper? You do understand the present circumstance regarding BTER do you not? You have 100% of something but you can sell no more than 10% - not a problem? You are as stupid as people keeping money in banks and going mad once bankrun happens and they lose everything. They were stupid and slow but just like most of you here it is not them (you) who would be guilty - it would be Cryptsi team, Bter and me for starting a bankrun. Mindless horde. There are no buy orders because people are uncertain regarding the future of BTER and do not want to hold any equity on the exchange. |
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Have they said if user data has been compromised everyone should change passwords
If you must be told to change password after a hack that means you are idiot. The main issue for XCR now seems to be lack of buy orders. 100% coins (tokens) are there on Bter but not even 10% could be sold even if all buy orders end up filled. There is not much confidence when it comes to XCR, obviously. Are you trolling or just trying to get in cheaper? You do understand the present circumstance regarding BTER do you not? |
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Or just the 2nd deathblow for all proof of stake coins.
If the theft was POW or POS makes no difference. I do like DPOS though, just not the way Bitshares implemented it in practice. They sell the coins in IPO, then delegates are elected by plutocracy using coins as weight for voting. Like all IPOs, the devs can just send in as much BTC as they want for inifinite premine since all the BTC profit goes to themselves anyway.
The BTC raised is publicly audited. |
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Anyone else believe this is really beneficial for other 2.0 coins out-there?
Bitshares, QORA, NEM, CRYPTI?
Regardless of the outcome, fork or no fork, probably no fork, I feel NXT will be damaged beyond repair.
This is a great juncture for other 2.0s to gain significant traction in the market.
Coincidentally CRYPTI (another 2.0) had their launch date issued for today(postponed however due to theft). Fate or coincidence?
Surely Bitshares will benefit from this. Even QORA with their dysfunctional community should benefit from this.
However, the timing of events couldnt have been any better for CRYPTI and NEM as both are on the verge of release and obfuscated open source.
Take advantage of the situation is all I can say.
Thoughts?
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Once you start rolling back the blockchain how is this decentralized or unlike fiat's credit card system?
Cryptos are quickly becoming fiat 2.0. This is a tough choice cause $1.25 million is a lot of money to make up for but it definitely sets a bad precedent. I'm not sure what the correct choice would be but if more and more coins do rollbacks then it would bring up other issues related to fiat and controlled, centralized systems.
This is a shining example of decentralized. No central authority has made this decision. Many have differing opinions, and each person's stake gets to 'vote' by choosing which chain to stake on. I can't think of a better way to answer a difficult question like this. I agree. Too much anarchal idealism going on in crypto these days. Right now we have the ability and power to collectively agree on the state of affairs affecting an entire community. But we would rather stick to some irrational ideals just because they fit our belief system. *NEWS FLASH* Your belief system is flawed. You want to live in a crypto state kin to Somalia? Let the thieve get away. You wanna live in a crypto world where community intervention is possible without relying on a central entity? Join the Fork. |
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If BTER honors their commitment to distribute CRYPTI it will be the saving grace for their exchange.
They will lose the support of NXT and garner that of CRYPTI. Many people will be flocking to CRYPTI as the 2.0 of choice now that NXT is botched and the volume will be through the roof.
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 Omg this is AMAZING! |
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BTER very quickly said they would honor the stolen funds, as it was their fault. Chill-pill, people.
How can they honor 50mill NXT stolen? Would take years to repay. |
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BTER withdrawals are enabled, woohoo  Getting my BTC out and done with exchanges for now. Will be sitting on my BTC and XMR locked away and finish some IPO's that I still got going. After that, I'll just wait for proper P2P exchanges You got yours out? My withdrawal is still pending..
Edit: YEP! WORKING!  Edit2: See, like I said it.  Did your withdrawal succeed? Mine not, started doing something but now stuck at 'waiting for balance'. Seems like it's stuck in an empty hot wallet Just withdrew about 5 BTC. Said processing initially btc withdrawals are working and even other coins like via. I sold XCR at about 1550 some 4 hours ago when I found out about the NXT heist at BTER. I withdrew the BTC proceeds but it took some 3.5 hours for the withdrawal to take place from BTER. However, the withdrawal has been confirmed to my external wallet pending 6 confirmations. Not sure whether to move the BTC back to BTER and trade in XCR whilst the price is low or keep the BTC off the exchange until we find out whether BTER have resolved the NXT problem. Your thoughts would be appreciated though may be otiose as the XCR price seems to be climbing back to higher than the price at which I sold. If BTER planned on running I cant imagine they would reenable withdrawals. They seem confident they can retrieve the stolen funds or something to that ends. At worse I feel they might just default on the NXT and continue operations. |
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