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Economy / Service Discussion / Re: How to Deal with Poloniex hack situation
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on: March 04, 2014, 04:48:19 PM
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SMS confirmation ?!
fuck that holy shit do you think I am made out of cellphones and time
I say just fix the problem and have the website run as it normally does with the normal fees and use the money you make from fees to fill in the 12.3% gap
I don't see why we can't have poloniex operate as a fractional reserve exchange, even temporarily. Every other exchange is fractional reserve, this shouldn't even be a problem at all.
Unless 87% of the BTC in your website are withdrawn really fast regularly I can't possible fathom how this could even be a problem, something is missing here.
I think poloni.ex operated as a fractional reserve exchange and this 12.3% WAS their fractional reserve, maybe.
That would explain why this problem didn't get solved in 5 minutes and an apology.
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: ••• [ANN][SMC] SmartCoin • FAIR DISTRIBUTION • 3 EXCHANGES [COINMARKET | COINEDUP] •••
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on: February 09, 2014, 09:36:23 AM
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35,000 in 40-50 hours I predict a huge rise in price based on the fact that multicoin pools won't shift their focus to smc and dump coins until it isn't worth mining for them anymore, the coin will finally be able to see some proper growth considering how much interest has been shown. Exciting !  You know, i think, that multipools are not so bad. They give a decent ammount of Hashrate and make price growing. Watch this logic: 1. If coin is not profitable, nobody is mining 2. If nobody is mining, Hashrate falls and difficulty falls to 3. Miners get their coins cheaper so, they will tend to sell cheaper, so price falls 4. If price falls, profitability falls too. 5. If price falls constantly, nobody wants to invest in coin At that moment, SmartCoin hashrate is really depends on big pools, constant Hashrate is, maybe, 1 GH/s or somewhere around it. But plus 1-3 GH/s is generated by multipools and by people, who search information at Coinwarz... Current Hashrate 4 GH/s is very cool, but I wait for 10 GH/s at the start of next week. SMC will grow +200%. Multi-pools do have decent amounts of hashrate but are not good for coins. What multi-pools do is mine the most profitable coin and dump coins constantly causing the value to drop. Hashrate goes up as value goes up. When difficulty goes up, less coins can be mined=demand>supply and price goes up. If price falls, miners move and diff drops. More coins to be mined thus more profits=miners come back. I've witnessed multi-pools destroy a coin, take a look at fedora (tips). Multipools throw at it several GHs and push diff to 100+ levels then leaving small miners to do the hard work. Also take a look at leafcoin there had to be 3 updates due to multi-pools destroying the coin's value. Multi-pools are bad for any coin and are based on greed, doesn't care about any coin just mining and selling right away. Yeah, that's pretty much it. They completely ruin the stability and value of a coin, and their community, they stop people who have genuine interest to mine the coin and people who have genuine interest from investing in the coin, because as soon as the value gets higher the miners' impact becomes negligibly small and investors get burned. Once this update comes in SMC will grow steadily, as it should, with the community support going strong currently. |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] CorgiCoin (CORG) - Come strut with us!
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on: February 08, 2014, 05:08:04 PM
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10 shatoshi  I don't want to be pessimistic because I've mined some personally, but that's a bit optimistic, hundreds of millions of corgicoins were sold at 2 satoshi, if it even goes anywhere near 3-4+ people who bought at 2 satoshi will start dumping to double their money before it isn't possible anymore. Also, people are not mining it as much anymore because it's not as economical, this coin was definitely abused by some multipools which crashed the price, and the mining difficulty has actually gone down in the past 48 hours. But, if they add it to CoinedUp more people might get interested and I could see the price going up to a certain extent. Just be realistic |
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