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Hi Guys,
I am new to NEM. Can summarize what is going it with it and are there any enterprises using it. And any learning materials around it ? I will have a loot at the official site.
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As far as I know Ethereum POS is coming in months, yes/no? Has there been any QA with published results ? Last thing I heard was they were going to run POW and POS concurrently in the beginning.
Also is POS changing the ICO ERC20 smart contracts ? Any tech info on that would be great. Thanks.
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I.e can Ethereum mining be profitable for the next 12 months or are any of the other coins gonna need mining that is doable by cards, for at least 12 months ..
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I am new to mining but have done some research yesterday. It looks like ethereum and multiple other coins can be mined for profits of about 60 USD per month per AMD card.
How long do you think this ratio can keep in the future ?
Although having read some related threads, it seems that a common strategy at the moment is to mine something that you think will shoot up in price eventually.
PS.Sorry didn't see the mining subforum.
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I can't believe so many people commented threads on reddit such as this one https://www.reddit.com/r/btc/comments/6xu9g5/25_million_more_tethers_created_welcome_to/ This is such a huge topic that is bizzare that is not discussed wildly. And I have come to realize that we all benefit from it not being discussed broadly. Yes at some point there may be huge crash related to USDT getting seized. But in the mean time it will have helped with adoption and attracting development. It is like it is a necessary evil. People have been centrally managed since we know it, and now a new industry takes the same structure of nature. So be it. If USDT was to crash/seize it would still be a minor event in BTC and crypto's journey to replacing FIAT. Looooong way. Long past mass adoption, possibly wars, intense government interference, legal action , wars. I concluded all this after being totally baffled as to how many people don't realize or want to talk about this. So bottom line is the same. Enjoy the benefits but help with whatever you can to promote decentralization from central power. Or else crypto will be absorbed into the current system. |
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https://hackernoon.com/the-curious-tale-of-tethers-6b0031eead87https://medium.com/@bitfinexed/are-fraudulent-tethers-being-used-for-margin-lending-on-bitfinex-5de9dd80f330Now I don't want to FUD and fine if this article is not approved here but.. Basically shows that USDT is being printed out of thin air. Not many people seem to care about it on Reddit. I have stopped using Bitfinex due to this article and wary of using Bittrex which also uses USDT, although Bittrex is more compliant with US laws compared to Bitfinex. If USDT is busted can Bittrex come out and say .. sorry there is no money .. Sad that I got scared of using Bitfinex though .. it is the best platform for day to day trading. I guess I want to hear opinions including why it is fine that they print it. Printing USDT in itself is a "scheme". They are effectively printing Bitcoin or anything that trades on any USDT platfrom, since they can print USDT as much as they want. Effectively they must have printed as much USDT as to cover all deposits accross all USDT exchanges .... a lot. Lets say it is fine for them to print it since crypto pumping covers it....... But what if someone(US SEC, FBI, etc ) shuts down USDT for some reason .. for example there is an audit that shows there is no USD reserve therefore the claims on the USDT site are fraudulent. If they close down USDT servers, would Bittrex survive long enough to pull coins out ? Could Bittrex continue working long enough to withdraw, if USDT servers were shutdown ? Also, has anyone seen a USDT Audit , which they claim on their site is done "regularly" ?
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I was wondering, when people short on exchanges, are there actual coins getting re-purposed for the position or is it just price difference calculations..
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Bitfinex.com doesn't seem to give a backup/recovery key in case your Google2Factor Authenticator phone is lost or breaks down. The Authenticator app on Android doesn't have any sort of backup functionality.
On your Google's account you seem to be able to enable 2 factor authentication but that is for google authentication it seems. I.e I can't see how to backup the keys on the phone.
When you first set up GA for Bitfinex you were shown a secret key for GA to write down that would allow you to restore GA to a new phone if needed. They probably should really insist that you write that secret key down. Without that key you are in for a spot of bother if you lose the phone. Didn't show the restore key at first. I am going to send them a ticket. |
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Bitfinex.com doesn't seem to give a backup/recovery key in case your Google2Factor Authenticator phone is lost or breaks down. The Authenticator app on Android doesn't have any sort of backup functionality.
On your Google's account you seem to be able to enable 2 factor authentication but that is for google authentication it seems. I.e I can't see how to backup the keys on the phone.
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Gdax/Coinbase is regularly offline during volume spikes.
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Poloniex and Bitfinex both have withdraw delays or not processing all together Where did you get this info? Just a few days ago, I tried to withdraw a few litecoins, and the withdrawal was processed pretty fast (within a few minutes). Indeed, I don't know what my mileage would have been if I had tried to withdraw a few thousand litecoins (or bitcoins), but if there were numerous issues with withdrawals at Bitfinex (obviously, apart from fiat withdrawals which are disabled right now), there would be a lot of noise across the forum (and in this thread specifically). Other than that, I agree with you that withdrawal issues are a telling sign of possible problems in the future. It was the same with Cryptsy, and it had been constant delays with withdrawing even tiny amounts that finally made me abandon this exchange for good. That turned out to be a wise decision in the end Yes I meant fiat withdraws not processing. |
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How to judge their stability/ liquidity ? It is just that bit easier to operate an exchange without withdraws, especially if you can't cover all withdraws. That is my scare. But if I can double the investment quickly ... might be worth. I just do not want to burn again like with Mtgox. Poloniex and Bitfinex both have fiat withdraw delays or not processing all together. On Bitfinex is from few months. No one is panicking and hopefully no reason to. I am just researching using these exchanges ... and want to know more about them. Why people are not bothered by this situation ? I am gonna go trough this thread... but go one tell me please why we are not concerned. https://www.bitfinex.com/posts/201 |
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How to judge their stability/ liquidity ? It is just that bit easier to operate an exchange without withdraws, especially if you can't cover all withdraws. That is my scare. But if I can double the investment quickly ... might be worth. I just do not want to burn again like with Mtgox. Poloniex and Bitfinex both have withdraw delays or not processing all together. On Bitfinex is from few months. No one is panicking and hepefully no reason to. I am just researching using these exchanges ... and want to know more about them. Why people are not bothered by this situation ? https://www.bitfinex.com/posts/201 |
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Kraken was dead yesterday during the surge.
I am still collecting recommendations which exchange to move to. Some people mentioned Bitfinex, but I don't who uses that?!?. They currently do not process fiat withdraws (don't know about deposits ), were apparently based in Taiwan for their banking and having problems sending money out of it. How does an exchange fund if it can't receive deposits ? Don't liking it all.
I don't like Poloniex either for their USDT not sure I want to be in that at all. As far as I know USDT is a coin tied to USD.. but I want pure fiat not another coin.
With Kraken unreliable during yesterday's surge, not sure where to go.
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Guys, what is the experience like for withdrawing USD from Bitfinex. The following post reads there can be severe delays depending on where you are withdrawing from.. https://www.bitfinex.com/posts/203As noted in our prior announcement, US correspondent banks continue to block international wires. USD, however, continues to flow domestically in Taiwan and other channels have been slowly ramping up as evidenced by the price spreads narrowing between Bitfinex and other exchanges. Unfortunately, the solutions available to us at the moment are limited to specific customer profiles in certain jurisdictions, though we are working tirelessly to expand our portfolio of deposit and withdrawal options (including support for other fiat currencies) to meet the needs of our global customer base. If and when a customer qualifies for one of these channels, we will reach out to the customer. There is no need to inquire by means of a support ticket. We have, however, moved the majority of our funds out of Taiwan and the “one-time” withdrawal solution discussed in the prior announcement is coming online. Unfortunately, due to the cumbersome nature of the settlement procedure, we are processing these requests in descending order of size as we learn how to handle the process more efficiently. For the time being, we will only process requests above $50,000 in size. We believe that by the time we are able to get to the smaller withdrawals, other, less cumbersome withdrawal solutions will become more widely available. If you are interested in this option, please submit a normal withdrawal request and reference in a support ticket with subject “USD settlement request” - we will contact you when we are ready to process that withdrawal. We are deeply grateful for the patience and forbearance that our customers and shareholders have shown us as we work to restore normal operations. We apologize for the inconvenience and look forward to resolving these problems in the coming weeks. |
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The help page on Bitfinex reads that crypto deposits may be delayed for accounts that are undergoing verification ? Is that true ? What is the maximum of Ether I can send and expect to get it immediately at Bitfinex , while my account is still being verified ?
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Kraken' s system goes totally unresponsive in high volume times like now. I haven't been able to fill order for over 30 mins.
Just saying. The system can't be used for daily trading.
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